Icahn nominates himself, 11 others for Dell posts

Carl Icahn is nominating himself and 11 other candidates for spots on the Dell Inc. board of directors.

The billionaire investor and Southeastern Asset Management own a combined 13 percent of the 's shares. They want to keep Dell public, and oppose a $24.4 billion offer from an investment group led by company founder and Chairman Michael Dell.

According to a form filed with the , the nominees are Icahn, Matthew Jones, Bernard Lanigan, Jr., Rahul Merchant, Peter van Oppen, Howard Silver and David Willmott, Harry Debes, Rajendra Singh, Gary Meyers, Daniel Ninivaggi, and Jonathan Christodoro to the board.

Ninivaggi is CEO of Icahn Enterprises and Christodoro is managing director of Icahn Capital LP. Van Oppen is a partner at investment firm Trilogy Equity Partners, while Merchant is commissioner of New York City's Department of Information Technology and Telecommunications and chief information and innovation officer. Willmott is president and chief operating officer of yard-care equipment maker Blount International Inc.

An led by Michael Dell offered to take the Round Rock, Texas, company private for $13.65 per share earlier this year. Dell shareholders will vote on the buyout offer in the next few months.

Icahn and Southeastern say they would let shareholders keep their stake in the slumping PC maker so they could benefit from any Dell rebound. Icahn and Southeastern plan to pay for their offer with existing cash from the company and about $5.2 billion in debt.

A special committee of Dell directors said Monday that it wants to hear more details on the Icahn-Southeastern proposal.

Dell shares rose 7 cents to close at $13.52.


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Citation: Icahn nominates himself, 11 others for Dell posts (2013, May 13) retrieved 18 July 2019 from https://phys.org/news/2013-05-icahn-dell.html
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