Sunday, 29 November 2015
Last updated 1 day ago
Jul 1 2013 | 12:26pm ET
Carl Icahn has secured the $5.2 billion in financing he claims to need to effect his proposed $16 billion share buyback program at Dell Inc.
A group of banks and institutional investors put up the money, Reuters reports.
Icahn and Southeastern Asset Management are battling a proposed $24.4 billion buyout of the computer-maker by founder Michael Dell and private-equity firm Silver Lake Partners. They argue that the going-private transaction is little more than a giveaway of the company, and plan to seek control of Dell's board if shareholders vote down the buyout later this month.
Dell has accepted the Dell-Silver Lake deal, arguing that the company must go private to effect the changes it needs. The company has also said that Icahn and Southeastern have not taken into account just how bad its financial situation is, and that, even with the $5.2 billion, Icahn remains $2.9 billion short of funding.
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…