But within months, that deal left him the second-largest shareholder of a company in the midst of an accounting and management nightmare.
Though his stake in the firm was not disclosed, he will become the second-largest private shareholder.
As the co-founders and second-largest shareholders, they had hoped for an open auction.
Texaco has taken care to stay in the good graces of its second-largest shareholder.
In the recent past, he has also been critical of Citicorp, of which his funds are the second-largest shareholder.
Chartwell is still Avon's second-largest shareholder, with a stake worth more than $100 million.
He is the second-largest shareholder of Register.com, with 13.2 percent, and he apparently expected it to sell for much more.
However, citing cultural sovereignty concerns, the second-largest shareholder invoked their right to veto the purchase.
It also means that a competitor is no longer Time Warner's second-largest shareholder.
In the process, he became Gateway's second-largest shareholder.