TribLIVE

| Business


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

Icahn, Southeastern challenge Dell takeover plan

Email Newsletters

Click here to sign up for one of our email newsletters.

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

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.

Subscribe today! Click here for our subscription offers.

 

 


Show commenting policy

Most-Read Business Headlines

  1. Pittsburgh’s tech startup activity rates last of 40 metro areas in report
  2. Corporate America speaking out on social issues, getting results
  3. After years of downsizing, big houses make comeback
  4. New J.C. Penney CEO comes from middle-income America
  5. Floating homes offer ‘affordable’ option in San Francisco area
  6. How to land that 1st job after college
  7. Obama overtime proposal slammed
  8. Truffle dogs sniff out pungent fungus prized by foodies
  9. Pending home sales in U.S. climb to 9-year high
  10. Heinz executives to dominate post-merger management of Kraft Heinz Co.
  11. U.S. Steel, Alcoa lead June decline