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Reports: Icahn, Southeastern make alternative bid for Dell |
May 10, 2013
Investor Carl Icahn and Southeastern Asset Management have made a counter-offer for Dell that would keep the computer company still publicly traded, according to reports.The two key shareholders in the company have in a letter to its Board offered to give Dell's shareholders the option to keep holding stock in the company, and take an additional US$12 a share in cash or stock, The Wall Street Journal reported.Founder Michael Dell and private-equity firm Silver Lake Partners made an offer for Dell in February that aims to take the company private in a US$24.4 billion deal. The proposal offers to pay $13.65 per share in cash.But Icahn proposed as an alternative in March a "leveraged recapitalization" of Dell, which would announce to shareholders a special dividend of $9 per share in the event of the Dell-Silver Lake proposal being voted out by shareholders. The dividend would be financed from existing cash, receivables and new debt.To read this article in full or to leave a comment, please click here
Link: http://www.pcworld.com/article/2038436/reports-icahn-southeastern-make-alternative-bid-for-dell.html#tk.rss_all
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