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Pickens Follows Icahn With Big Yahoo Buy
By David A. Utter
Billionaire oilman and investor T. Boone Pickens told the world he followed Carl Icahn's Yahoo investment with a 10 million share buy.
Yahoo's efforts to stay free of Microsoft's clutches may depend on Microsoft. Though Microsoft said it isn't interested in a takeover of Yahoo, a couple of wealthy investors may think it could happen with the right motivation.
Carl Icahn got the ball rolling by announcing an intention to boot out Yahoo's board and replace it with his ten-man slate of directors. Icahn purchased millions of shares of Yahoo and lambasted Yahoo's board for its handling of negotiations with Microsoft.
Bloomberg now notes how another investing giant tagged along for the fun after Icahn picked up those shares. Pickens told CNBC he decided to pick up shares after seeing Icahn's interest in Yahoo.
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