Dan Loeb's Third Point LLC sold 11M Yahoo (YHOO) shares on Thursday and Friday, supposedly to...

|By:, SA News Editor

Dan Loeb's Third Point LLC sold 11M Yahoo (YHOO) shares on Thursday and Friday, supposedly to keep the firm's stake in the Internet media giant from growing on account of its $5B buyback plan. That leaves Third Point, which supported the buyback plan as well as the hiring of Marissa Mayer, with 62M shares, or a 5.3% stake based on Yahoo's diluted share count at the end of Q4. Yahoo spent $1.5B to repurchase ~80M shares in the quarter - did its 2H12 run-up influence Loeb's move? (previous)