Icahn reportedly sells Mylan stake for big gain

Pocketing an estimated $50 million in profit, Carl Icahn appears to have sold off his stake in Mylan Laboratories and moved on to greener pastures. Mylan announced that Icahn has evidently tendered his 26.3 million shares in a buyback offer Mylan mounted at $19.50 per share. Icahn had appeared as the black knight in a proposed merger between Mylan and King Pharmaceuticals, saying that King was grossly overpriced in the deal. The merger subsequently collapsed, with Icahn making money both by shorting King stock and buying up Mylan stock.

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