Icahn and Southeastern push against Dell buyout

Jun 06, 2013

Activist investor Carl Icahn and Southeastern Asset Management Inc. are formally urging Dell shareholders to reject a buyout offer from the struggling PC maker's founder and investment firm Silver Lake Partners.

. has agreed to sell itself to founder and CEO Michael Dell and Silver Lake for $24.4 billion, or $13.65 per share.

But Southeastern, Dell's biggest independent shareholder, and Icahn teamed in May to pitch an alternative plan that would let Dell shareholders keep their stake in the company and give them either $12 per share in cash or additional shares.

In a filing Thursday, the pair urged shareholders to vote against the company's proposals at a special meeting July 18. The filing didn't contain any details about their own plan.

Explore further: BofA to refund Apple Pay customers charged twice

4.5 /5 (2 votes)
add to favorites email to friend print save as pdf

Related Stories

Dell: Investors offer short by $3.9B

Jun 05, 2013

Dell says a buyout offer from shareholder Southeastern and billionaire investor Carl Icahn is about $3.9 billion short of the amount needed to pay shareholders as promised and operate the business.

Dell board committee seeks info on investor plan

May 13, 2013

Dell board members say they need more details from investor Carl Icahn if he wants them to seriously consider his latest challenge to Michael Dell's $24.4 billion plan to take the computer maker private.

Dell, Icahn agree on a share ownership cap (Update)

Apr 16, 2013

Dell Inc. and Carl Icahn have agreed to cap his stake in the personal computer maker while a special board committee considers competing takeover bids from the billionaire investor, a group led by CEO Michael ...

Investors challenge Dell takeover plan (Update)

May 10, 2013

Dell's largest independent shareholder has teamed with activist investor Carl Icahn in another challenge to founder Michael Dell's $24.4 billion bid to take the struggling computer maker private.

Recommended for you

Nokia turnaround since handset unit sale continues

1 hour ago

Nokia appears to have turned around its fortunes after the sale of its ailing cellphone unit to Microsoft, reporting a third-quarter net profit of 747 million euros ($950 million), from a loss of 91 million euros a year earlier. ...

Yahoo CEO defends strategy in face of criticism

1 hour ago

Signaling her reign has reached a pivotal juncture, Yahoo CEO Marissa Mayer is trying to convince restless shareholders that the long-struggling Internet company is heading in the right direction.

Sk Hynix logs all-time high Q3 earnings

2 hours ago

SK Hynix, the world's second-largest memory chip maker, reported Thursday a record high quarterly net profit for the three months to September on strong sales and currency earnings.

User comments : 0