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Monday, May 13, 2013

Battle over Dell acquisition stalls as committee seeks additional information from Icahn

Battle over Dell acquisition stalls as committee seeks additional information from Icahn:
Dell buyout: Ichan deal
A special committee that is evaluating the offer from investor Carl Icahn and Southeastern Asset Management to acquire Dell is seeking additional information about the bid, Reuters reported. Icahn and Southeastern, two of Dell's largest shareholders, offered a deal worth up to $21 billion in cash that would allow people who own Dell stock to keep their current stakes in the company. Shareholders would be given the option to receive either $12 per share in cash or $12 in additional shares valued at $1.65 per share. The offer counters a $24.4 billion bid led by Dell founder Michael Dell and private equity firm Silver Lake Partners to take the company private.

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