Elevate your local knowledge
Sign up for the iNFOnews newsletter today!
Icahn ends fight for PC maker Dell days before shareholders vote on founder’s buyout offer
Billionaire investor Carl Icahn is ending his bitter takeover fight for struggling computer maker Dell a few days before shareholders are scheduled to consider the latest buyout offer from company founder Michael Dell.
Icahn says he still opposes Michael Dell’s bid but has determined it would be almost impossible to defeat it in a vote scheduled for Thursday. Icahn says he won’t pursue additional efforts to defeat it.
Michael Dell’s $24.8 billion bid to take his company private includes an offer of $13.75 per share plus a 13-cent dividend. Dell raised that bid last month after previous offers drew strong criticism from Icahn and other major Dell Inc. investors.
Icahn wanted Michael Dell ousted as CEO and had pitched an alternative offer that would keep the company publicly traded.
News from © The Associated Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community?
You must be logged in to post a comment.
