TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Icahn, Southeastern challenge Dell takeover plan

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

DELL $13.45 +$0.13

at close on FRIDAY

Daily Photo Galleries

By The Associated Press
Saturday, May 11, 2013, 12:01 a.m.
 

Dell's largest independent shareholder is teaming with activist investor Carl Icahn in another challenge to founder Michael Dell's $24.4 billion bid to take the struggling computer maker private.

Southeastern Asset Management and Icahn said they will offer shareholders $12 per share in cash or additional stock in a deal that keeps Dell Inc. publicly traded. They said that would give shareholders a stake in future gains made by the Round Rock, Texas-based company.

An investment group led by Michael Dell is offering $13.65 per share in a deal that would take the company private. Southeastern and Icahn criticized that proposal in a scathing letter to Dell's board outlining their proposal.

Icahn also has made a preliminary proposal to buy 58 percent of Dell stock for $15 per share.

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. Nonprofit hospitals in Western Pa. feel pain in finances despite Affordable Care Act
  2. Hospital finances still crying ‘ouch’
  3. Online price battle heats up with intraday price fluctuations
  4. 8 Western Pennsylvania hospitals penalized over infections
  5. Beacons track shoppers’ smartphones amid retailers’ aisles
  6. Stock market makes biggest gain in 3 years
  7. Ford expands air bag recall across U.S.
  8. FedEx to buy product-return firm Genco in e-commerce push
  9. 84 Lumber vice president McCrobie says company, housing market rebounding
  10. Peet’s Coffee & Tea closes its 3 Pittsburgh stores
  11. Rice Energy spin-off priced below expected range
Subscribe today! Click here for our subscription offers.