Icahn, Southeastern Mull Potential Dell CEOs

Jun 10 2013 | 10:10am ET

Carl Icahn is planning for Dell Inc.'s future without its founder and CEO, Michael Dell.

Icahn and his partner, Southeastern Asset Management, are locked in a battle over Dell's future with Michael Dell and his partners, led by private-equity firm Silver Lake Partners. The latter have proposed a $24.4 billion buyout to take Dell private, an offer accepted by Dell's board. The former call that deal "the great giveaway" and have suggested a leveraged recapitalization instead.

Icahn and Southeastern still have a long way to go to make that recapitalization a reality, starting with the defeat of the Michael Dell-Silver Lake deal in a shareholder vote next month, followed by a successful proxy battle to replace Dell's board of directors. But Icahn and Southeastern are already mulling who would lead a Dell under their control.

The two are putting together a shortlist of potential CEOs to replace Dell. Among the names to make the cut are Cisco Systems board member Michael Capellas, former IBM executive Michael Daniels, Oracle Corp. President Michael Hurd and Hewlett-Packard's personal-computer chief, Todd Bradley, Reuters reports.

Dell has called the Icahn-Southeastern deal "unrealistic" and claims it has a $3.9 billion funding gap. But several large Dell investors are siding with the two, including T. Rowe Price and Yacktman Asset Management.

"We are going to vote against the Silver Lake deal," Don Yacktman said. "Southeastern and Icahn make a strong case to go the other way."


In Depth

Part II: Roubini Talks Risk, Recovery And The Threat Of A Triple Dip Recession

Oct 21 2014 | 12:41pm ET

In the second half of our interview with Nouriel Roubini, FINalternatives editor...

Lifestyle

Balyasny Pays Over $6M For Lakefront House

Oct 22 2014 | 10:29am ET

A venture headed by hedge fund manager Dmitry Balyasny just paid $6.2 million for...

Guest Contributor

Hedge Funds Weather A Data Management Perfect Storm

Oct 22 2014 | 12:28pm ET

From a regulatory standpoint, nearly every development since the crisis has placed...

 

Videos

Editor's Note

    Guidelines for Guest Articles

    Oct 22 2014 | 9:46am ET

    We are always looking for guest articles from hedge fund managers and buy-side firms.

    If you are interested in submitting a contributed piece for possible publication on FINalternatives, please take a look at the specs. Read more…

 

Futures Magazine

October 2014 Cover

Demeter: Family affair

David and James Hamman launched their fundamental Livestock and Grains Program in March of 2010 but it really was decades in the making.

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.