Yahoo’s Largest Shareholder Doubles Stake Since Last Year
In the midst of all the back and forth, Yahoo’s (NSDQ: YHOO) largest shareholder Capital World Investors has doubled its holdings in the company, according to an SEC filing today. As of March 31st this year, it had 10.1 percent stake, and owns 135,542,600 shares. That up 95 percent from its Yahoo holdings on Dec. 31, as News.com points out. Meanwhile, the second largest shareholder Legg Mason indicated its position earlier this week: it is prepared to support an independent Yahoo, should Microsoft (NSDQ: MSFT) lower its offer.
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Apr 10, 2008 11:48 AM ET
Posted In: Companies, Microsoft, Yahoo, capital world investors, legg mason
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Comments (1)
Apr 11, 2008 9:38 AM
That’s pretty interesting. I can think of two reasons why somebody would currently double the Yahoo stake:
1. They expect the bid to increase.
2. They want to support the Yahoo board.
More and more people suggest that Microsoft isn’t increasing their bid but could even reduce it. So count that as a potentially interesting development.