(Reuters) - Activist investor Carl Icahn and Southeastern Asset Management Inc, two of Dell Inc's largest shareholders, have proposed an alternative to a $24.4 billion buyout deal led by founder Michael Dell.
In a letter to Dell's board, Icahn and Southeastern proposed giving Dell shareholders the option to either receive $12 per share in cash or $12 in additional shares valued at $1.65 per share.
Icahn and Southeastern, both vocal opponents of the go-private deal, said in the letter they together held about 13 percent of Dell's stock.
Both the investors have argued that the buyout effort from Michael Dell and private-equity firm Silver Lake Partners significantly undervalues the company.
If Dell's board does not find the new offer "superior" and insists on presenting the go-private offer for a shareholder vote, Icahn and Southeastern will put up a slate of 12 directors to challenge the current board, the investors said.
In April, Blackstone pulled out a month after it launched a challenge to the billionaire's attempt to take Dell private.
(Reporting by Sakthi Prasad and Supantha Mukherjee in Bangalore; Editing by Edwina Gibbs and Saumyadeb Chakrabarty)
Source: http://news.yahoo.com/icahn-southeastern-propose-alternative-dell-buyout-deal-wsj-044842529.html
Lane Johnson Barkevious Mingo nfl draft 2013 NFL draft NFL.com Rebecca Martinson EJ Manuel
No comments:
Post a Comment