Icahn Pushes 'No' Vote On Dell Deal

Jun 7 2013 | 1:31pm ET

Carl Icahn has urged Dell Inc. shareholders to reject the $24.4 billion buyout offer from company founder Michael Dell and private-equity firm Silver Lake Partners.

Icahn and Southeastern Asset Management didn't provide any new details about their own leveraged recapitalization plan, which Dell this week rejected as "unrealistic" and suffering from a $3.9 billion funding shortfall, in the regulatory filing yesterday. But they did disclose that, during talks between Southeastern and Michael Dell last June, Southeastern sketched out a buyout at $17 per share.

Michael Dell and Silver Lake are offering $13.65 per share.

Icahn and Southeastern have been fighting the buyout deal, calling it the "great giveaway"  and threatening litigation and a proxy battle. Presumably, a proxy battle would ensue if the Dell-Silver Lake deal is rejected. Shareholders are set to vote on it on July 18.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...