Did anyone besides me find this interesting? Carl Ichan, stoking a proxy fight with the kids at Yahoo, has the support Paulson & Co. who bought 50 million shares of Yahoo:
"We intend to support the Icahn slate but sincerely hope that Yahoo will negotiate an agreement with Microsoft thereby making a proxy fight unnecessary," Paulson said in a statement. Paulson also said that a Microsoft/Yahoo hook-up would offer stronger competition to Google Inc....
Paulson manages more than $30 billion across several strategies. The firm was founded in 1994 by John Paulson, a former managing director for mergers and acquisitions at Bear Stearns. Mr. Paulson personally made $3.7 billion last year, thanks mostly to his shorting of the subprime mortgage market.
http://online.wsj.com/article/SB121088262819396339.html?mod=googlenews_wsj
Yes, it's the same John Paulson who warned us of the coming depression and made $3.7 billion! You need to re-read the entire story here:
http://aaronandmoses.blogspot.com/2008/05/37-billion-dollar-man.html
Now he that warned us of the financial collapse, is taking a $1.5 billion dollar arbitrage stake in Yahoo. Well maybe he didn't really believe that there was a pending economic collapse, but he wanted others to think that so he could get the easy marks on his bearish bets! Apparently his bearish bets are now blowing up before he can cover them, but not before he had already cashed out! So now he's betting big on the upside.
In any event, it seems that he and Carl have met over dinner, and now Yahoo will be Microsoft's lunch.
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