Icahn, Southeastern challenge Dell takeover plan
By The Associated Press
Published: 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
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Wages have soared in Pittsburgh but economy appears to have stalled
- PPG shareholders vote against proposals; sales, profit see double-digit increases
- Consol Energy transitions as leadership changes hands
- Fed Beige Book survey: Growth picks up across most of U.S. but not in Pittsburgh region
- GlaxoSmithKline discloses bribery inquiries
- Factory output extends solid gains in March
- Region’s largest bank PNC posts 7% rise in 1Q profit
- Gap outlines growth plans for China
- Heinz offers Pittsburgh workers a buyout if they are unhappy
- Mt. Gox bankruptcy protection rejected
- Yellen stresses need for Fed to be flexible