Updated: Arbitrageur John Paulson Discloses 50 Million Share Stake In Yahoo
“Blue Horseshoe Loves Yahoo.” As Carl Icahn officially launches a proxy throwdown at Yahoo (NSDQ: YHOO), Reuters reports that the Paulson Fund, a top hedge fund run by investor John Paulson, has amassed a 50 million share stake, which represents around 3.6 percent of the total. Paulson was one of the most highly compensated hedge fund managers last year, having made a significant bet against the subprime mortgage market. He’s also known for betting on merger arbitrage situations—so Carl Icahn’s attempt to play matchmaker between Yahoo and Microsoft (NSDQ: MSFT) would be right up his alley.
Updated: The filing disclosing the 50 million share stake in Yahoo is here. In a statement, Paulson expressed “dissapointment” that the company failed to close a deal with Microsoft and that he hoped the coming month-long proxy fight would not be necessary. But yes, if it comes to it, those shares will be voted towards the Icahn slate. (via MarketWatch)
Related StoriesPosted In: Money, M&A & Venture Capital, Mergers & Acquisitions, Companies, Microsoft, Yahoo, carl icahn, john paulson, paulson fund
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Comments (1)
May 15, 2008 10:19 PM
The key to the game is your capital reserves - you don’t have enough you can’t piss in the tall weeds with the big dogs.