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Dell, Icahn in confidentiality agreement as buyout opposition grows |
March 11, 2013
Dell on Monday said it had signed a confidentiality agreement with investor Carl Icahn, who has vocally opposed the company’s proposed plan to be acquired for $24.4 billion in a leveraged buyout.
In a brief statement, Icahn Enterprises said it “looks forward to commencing its review of Dell’s confidential information.”
Further details were not provided on what information would be reviewed, but it is likely that Icahn will get a look at Dell’s accounting books. Icahn on March 7 proposed that Dell pursue a leveraged recapitalization and a special dividend of $9 per share if the buyout deal was rejected by shareholders. In a leveraged recapitalization, a company typically takes on debt in order to pay a divident to shareholders.
Dell spokesman David Frink said there was nothing to add, saying that the company is trying to be as transparent as possible through filings with the U.S. Securities and Exchange Commission.To read this article in full or to leave a comment, please click here
Link: http://www.pcworld.com/article/2030486/dell-icahn-in-confidentiality-agreement-as-buyout-opposition-grows.html#tk.rss_all
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