Icahn cleared to buy $2.5 billion of Yahoo! stock

By Lisa Kerner

Charlotte, N.C., May 30 - The Federal Trade Commission granted early termination of antitrust reviews in activist investor Carl Icahn's bid to purchase up to $2.5 billion of Yahoo! Inc. stock, a government release stated.

As previously reported, Icahn nominated a slate of nine candidates plus himself for election to the Yahoo! board of directors after the current board turned down a merger deal with Microsoft Corp.

Icahn said Microsoft's $33-per-share bid for Yahoo! is a superior alternative to Yahoo!'s prospects of operating as a standalone company, according to a prior news release.

Yahoo! provides internet services. The company is based in Sunnyvale, Calif.

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