Icahn gets OK to buy Yahoo stock

From Times Wire Services

Federal antitrust regulators have cleared billionaire investor Carl Icahn’s purchase of another $1.5 billion of shares of Internet company Yahoo Inc.

Icahn has spent more than $1 billion to buy 59 million Yahoo shares and options, giving him a 4.3% stake. He has sought Federal Trade Commission approval to acquire up to $2.5 billion in Yahoo stock, including his current holdings.

Icahn launched a proxy fight to remove Yahoo’s board of directors after Yahoo rejected a Microsoft Corp. takeover bid of $47.5 billion.