Wednesday, 17 September 2014
Last updated 2 hours ago
Jun 6 2013 | 11:30am ET
Dell Inc. sharpened its criticism of Carl Icahn's proposed leveraged recapitalization of the company, telling investors that Icahn's proposal has a $3.9 billion funding shortfall.
The estimated gap means that Icahn and his partners, Southeastern Asset Management, would only be able to pay between $8.50 and $9.35 of the proposed $12 per share dividend that would give them control of the computer-maker. Dell last week set a vote on the $24.4 billion buyout led by founder Michael Dell and private-equity firm Silver Lake Partners, urging shareholders to support it.
Icahn's offer is "unrealistic" and would fund the dividend with Dell's cash and $5.2 billion in debt. But Dell said that Icahn has overestimated its liquidity, projecting $17.3 billion where there is only $13.4 billion.
Icahn has threatened a legal and proxy battle.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
There are two things currency analysts agree on: Currencies have never gone through such a period of low volatility and the dollar must lead the sector out of the current malaise.