Tuesday, 1 December 2015
Last updated 5 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.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…