Adding to the list of Yahoo shareholders who are “furious” about the failed Microsoft-Yahoo deal is billionaire investor T. Boone Pickens who has to sell his Yahoo shares at a lossĀ because he was tired of waiting for the deal to materialize.
Interestingly, Mr. Pickens bought his share last May with the hopes that he would gain from the stock purchase once Microsoft acquires Yahoo at the original price of as much as $41. His disappointment towards the Yahoo management grew even stronger with the falling prices of Yahoo share which currently stood at a low $20.12. Microsoft’s final offer was at $33. Hence, we couldn’t blame Mr. Pickens for calling the Yahoo management pathetic if we have to imagine how much he must have lost. (more…)
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