Judge won't fast-track Icahn claim against Dell

Aug 17, 2013 by Randall Chase

A Delaware judge has refused to fast-track a trial on billionaire investor Carl Icahn's (EYE'-kahn) claims that Dell Inc. directors have breached their fiduciary duties in scheduling a vote on founder and CEO Michael Dell's bid to take the embattled computer maker private.

Dell's board has scheduled a shareholder vote on Michael Dell's $24.8 billion buyout offer for Sept. 12, followed by an overdue annual meeting on Oct. 17.

Icahn wanted the merger vote and annual meeting held the same day. He says that would give shareholders a chance to vote on a rival board slate he would offer in support of his alternative proposal that he says would be better for shareholders.

But the judge said Friday that Icahn has offered no proof warranting an expedited trial.

Explore further: Uber says outside review shows customer data safe, private

3 /5 (1 vote)
add to favorites email to friend print save as pdf

Related Stories

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.

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.

Icahn sues over Dell buyout bid

Aug 01, 2013

American investor Carl Icahn has filed a lawsuit aimed at blocking changes in timing and terms for shareholder voting Friday on a bid to take computer maker Dell private.

Icahn backs sweeter Dell counterproposal

Jul 14, 2013

Billionaire investor Carl Icahn is proposing that Dell shareholders get a chance to own a bigger stake in the struggling computer maker in hopes of thwarting an attempt by the company's founder to buy it for $24.4 billion ...

Recommended for you

Airbnb to expand tax collection efforts

Jan 30, 2015

Online lodging operator Airbnb is expanding its efforts to collect local taxes, responding to complaints that it competes unfairly with the hotel sector.

Jay Z to acquire Wimp music service

Jan 30, 2015

US rap star Jay Z will make a $56-million foray into the music streaming business by taking over the Norwegian service Wimp, its shareholders confirmed Friday.

How can Google snap its stock out of its stupor?

Jan 30, 2015

Google has turned into a stock market laggard as the shift to mobile devices has lowered the Internet search leader's digital ad prices and the company's expensive investments in far-out technology has trimmed ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.