Dell Won't Give Icahn More Info.

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.

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...