Carl Icahn Sells 12.7 Million Yahoo! Shares

Posted Sep 2, 2009

Yahoo Inc. (NASDAQ:YHOO) board member Carl Icahn has unloaded 12.7 million Yahoo! shares.  Now his ownership in Yahoo! went from 5.4% to 4.5%. Icahn said he was taking advantage of a window period where directors and officers can sell shares.

The sale of the shares are not intended to reflect upon the long-term views Icahn has of the company.  He said he was optimistic about the company’s prospects according to a filing.  Icahn continues to support the Microsoft and Yahoo! deal along with the performance of Carol Bartz.

Supposedly Bartz was angry with Icahn for selling the 12.7 million shares and sent out a company e-mail.  In the e-mail, Bartz tells Yahoo! employees to “get out of the sugar low ? we have work to do. Stop staring at our navels, stop arguing with each other. Stop debate, debate, debate, and let’s focus on the competition.”