Monday, 24 November 2014
Last updated 1 hour ago
May 8 2013 | 8:50am ET
Carl Icahn has given up on his own bid for Dell Inc., but he hasn't given up his effort to thwart the company's only remaining offer.
Icahn and Southeastern Asset Management, one of Dell's largest shareholders, may jointly nominate a slate of candidates for the company's board in an effort to sink the $24.4 billion buyout of Dell by founder Michael Dell and private equity firm Silver Lake Partners. The two investors believe that the deal undervalues the company.
Icahn had made a preliminary offer for Dell that he said was richer and would allow part of the company to remain public. But he has given up on taking control of Dell by buying a majority stake, The Wall Street Journal reports, favoring a takeover through the boardroom.
That move leaves Dell with only the Silver Lake offer; the Blackstone Group, which had made a preliminary bid itself, dropped out of the running last month.
Icahn and Southeastern have until next week to nominate candidates. But their effort could be for naught: According to the Journal, a shareholder vote on the buyout is likely to precede a vote on the board.
Nov 4 2014 | 9:45am ET
Data management is important to every business, but for hedge funds, it is critical. FINalternatives recently asked Peter Sanchez, CEO of Northern Trust Hedge Fund Services, how fund managers can deal with the demands of managing data while at the same time remain transparent and abide by operational best practices. Read more…
Reg NMS created a huge bifurcation in equity markets and while much of what has followed has been positive, in terms of lower fees and greater liquidity, many traders would like to see the market come...