T Boone Pickens, Texas oil tycoon and self styled alternate energy pioneer, has sold his 10 million shares of Yahoo stock following the Yahoo – Icahn deal and prior to Friday’s stockholders’ meeting.
Pickens had purchased the stock back in May, when he announced his support of Icahn move to supplant the entire Yahoo board by forcing a proxy fight.
Subsequent to the agreement between Yahoo’s board and Icanh to seat the corporate raider on the board, Icahn called off the battle and Pickens is leaving the field in what can only be termed disgust.
“I think that Yahoo management was pathetic,” Pickens told the San Francisco Chronicle. He was insistent along with Icahn that a full buyout by Microsoft was the best route to pursue.