T. Boone Pickens has apparently reconsidered his opinion of Carl Icahn. Back in May, the legendary Texas oil and gas entrepreneur bought up 10 million shares of Yahoo (YHOO), confident that Icahn would facilitate the company’s acquisition by Microsoft. “Carl Icahn is a smart guy,” Pickens said at the time. “He does great things for shareholders and now I’m a shareholder. When I saw what he did, I jumped in behind him. … The only thing I know about Yahoo is what [CNBC Host] David [Faber] just told me, and that Carl Icahn is a big shareholder.”
Today Pickens is wishing he’d known a bit more. Outraged over the company’s bungling of the Microsoft (MSFT) bid, the investor has sold his entire stake in Yahoo. At a loss. Said Pickens, “I think that Yahoo management was pathetic.”
Harsh words, and ones that will no doubt still be ringing in investors’ ears at Yahoo’s annual shareholder meeting for Friday.