Hedge funds line up behind Icahn on Yahoo

Thu, 22 May 2008 06:59:57 -0400

Yahoo may have been able to stare down Microsoft at the bargaining table, but we may yet see big M&A fees from a deal. The catalyst in all this remains Carl Icahn. Following his lead, an all-star cast of hedge funds managers have aligned themselves against Jerry Yang and Yahoo, which likely wasn't counting on this sort of shareholder response. T. Boone Pickens told the New York Post, "When I saw what he did, I jumped in behind him." Others include John Paulson, still basking in the glow of his stunning 2007 ($3 billion) and Dan Loeb of Third Point. The Post reports Farallon Capital Management, Appaloosa Management and Mason Capital Management are among those who have written Yahoo! board members to expressing their displeasure.

For more:
- here's the New York Post article