Friday, 31 October 2014
Last updated 1 hour ago
May 20 2013 | 12:24pm ET
Dell Inc. will not provide any more information about itself to Carl Icahn unless the investor and his partners provide the information it sought.
Earlier this month, Icahn and Southeastern Asset Management offered a competing proposal to Dell's existing deal, a $24.4 billion buyout by company founder Michael Dell and private-equity firm Silver Lake Partners. The special committee of Dell's board overseeing that proposed sale responded with a request for more information about Icahn's plans.
That information has apparently not been forthcoming, because the special committee has sent another letter to Icahn and Southeastern, saying it won't provide any further information until Icahn and Southeastern answer its questions, to enable it to determine whether their proposal—a $12 dividend to existing investors in cash or new shares—is "superior" to the Silver Lake deal.
"Please understand that unless we receive information that is responsive to our May 13 letter, we are not in a position to evaluate whether your proposal meets that standard," the committee wrote.
The letter follows a series of requests from Icahn's affiliates, including for data room access for a potential lender.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.