corporate raider icahn enters battle over dell
Last Updated : GMT 10:58:56
Arab Today, arab today
Arab Today, arab today

Corporate raider Icahn enters battle over Dell

Arab Today, arab today

Arab Today, arab today Corporate raider Icahn enters battle over Dell

Washington - AFP

Dell\'s plan for a private equity buyout ran into a potential snag Thursday as corporate raider Carl Icahn revealed that he has a stake in the computer giant and is opposing the deal. Icahn, in a letter made public by the company\'s board of directors, said the plan to take the company private in a $24.4 billion buyout led by founder Michael Dell \"is not in the best interests of Dell shareholders and substantially undervalues the company.\" The investor known for moves on companies ranging from MGM to Yahoo! said that Dell, instead of going private, should make a special dividend payment to shareholders by using cash, assets or by borrowing. This plan would give Dell shareholders 67 percent more than the offer of $13.65 per share. \"We see no reason that the future value of Dell should not accrue to ALL the existing Dell shareholders -- not just Michael Dell,\" Icahn said in the letter. Icahn said his investment firm had taken a \"substantial\" stake in Dell, without elaborating. CNBC television reported the stake to be around six percent. If Dell allows the buyout to move ahead, \"we anticipate years of litigation will follow challenging the transaction and the actions of those directors that participated in it,\" Icahn said. He said there will be questions about potential conflict of interest because of Michael Dell\'s ties to board members. Dell\'s special board committee evaluating the options said it was \"currently conducting a robust \'go-shop\' process to determine if there are third parties interested in proposing alternative transactions,\" and would \"welcome Carl Icahn and all other interested parties to participate in that process.\" On Wednesday, the board defended the buyout plan as in the best interest of shareholders, but said it may continue looking at other offers past a March 22 deadline.At least two major institutional shareholders have said they would vote against the plan. The buyout plan is backed by equity investment firm Silver Lake and would include a $2 billion loan from Microsoft. The move would delist the company from stock markets and could ease some pressure on Dell, which is cash-rich but has seen profits slump as it tries to reduce dependence on the shrinking market for personal computers. Dell shares dipped 10 cents to end Thursday ay $14.22 as analyst comments on the situation were mixed. Brian White at Topeka Capital Markets raised his target price to $18 a share, saying \"too many forces are pushing toward a higher buyout price.\" Jefferies analyst Peter Misek said he sees an agreement for the buyout at $15 a share. \"Our conversations with investors lead us to believe that most want a raised bid, but that they are also cognizant of the lack of competing bidders and of the secular headwinds facing Dell\'s PC business,\" Misek said in a note to clients. \"We also think Icahn could be satisfied with a raised bid.\"

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

corporate raider icahn enters battle over dell corporate raider icahn enters battle over dell

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

corporate raider icahn enters battle over dell corporate raider icahn enters battle over dell

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today The Big Apple bike boom

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Leaders of Russia, Iran, Turkey meet

GMT 10:12 2017 Wednesday ,22 November

Leaders of Russia, Iran, Turkey meet
Arab Today, arab today 'Advanced' cyber attack targets Saudi Arabia

GMT 10:18 2017 Wednesday ,22 November

'Advanced' cyber attack targets Saudi Arabia
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 13:41 2017 Tuesday ,21 November

French choke up over proposal

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday