Tuesday, 30 September 2014
Last updated 30 min ago
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."
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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…
The trading world is inundated with strategies and techniques. Here’s one way traders can get a handle on information overload.