Carl Icahn Doubles Down on Yahoo

Caril Icahn bought another 7 million shares of Yahoo (YHOO) according to regulatory filings. Icahn snapped up about $67 million worth of shares over the past three days for an average price of $9.92, bring his total stake at 75 million shares or nearly 5.5% of the company.

Perhaps he thinks they are going to find some superstar CEO to save the company. But the outlook seems to be pretty grim. 

Last week Steve Ballmer, at the Microsoft shareholder meeting reiterated that he was “done” with an acquistion. In October Kirk Kerkorian sold his entire stake in Ford and lost over a half a billion dollars. Carl must be feeling a little luckier than Kirk.