Arab Today, arab today dell asks for details on icahn bid
Last Updated : GMT 10:10:23
Arab Today, arab today
Arab Today, arab today

Dell asks for details on Icahn bid

Arab Today, arab today

Arab Today, arab today Dell asks for details on Icahn bid

New York - AFP

Dell\'s special board committee reviewing a sale of the computer giant asked corporate raider Carl Icahn on Monday for more information on his offer, saying details of the bid were too vague. \"It is not clear to us whether you intend to formulate your transaction as an actual acquisition proposal that the board could evaluate,\" a letter released by Dell said. \"We would need certain clarifications and additional materials.\" The letter said the committee would need \"comprehensive information\" on financing, including any commitments for loans. It added that the proposal unveiled last week \"does not appear to take into account the additional borrowings that would seem to be required\" for the company. The proposal by Icahn and other investors including Southeastern Asset Management, also lacked details on contingencies, such as what would happened \"if the transaction is not consummated.\" Icahn and the other dissident shareholders, in making the offer last week, called the planned buyout unveiled earlier this year a \"giveaway.\" The investor group, which holds around 13 percent of Dell shares, said in a regulatory filing it would urge shareholders to reject the private equity buyout and opt instead for its \"superior\" recapitalization plan, keeping the company public. Icahn has allied with Southeastern to block the plans led by Michael Dell, with the investment fund Silver Lake Partners, to take Dell private in a $24.4 billion -- or $13.65 a share -- buyout. Icahn, who initially offered $15 per share for up to 58 percent of Dell shares, unveiled the new plan, which would inject fresh capital and keep the company publicly traded in what is known as a leveraged recapitalization. Under the Icahn plan, shareholders would get $12 a share, from Dell\'s cash and new debt, and retain their equity stake. Icahn, in a letter to shareholders also filed with the Securities and Exchange Commission, did not place a value on the offer, but said it \"is superior to the going private transaction.\" In unusually harsh language, the document called the buyout plan \"the great giveaway\" and \"insulting to shareholders\' intelligence.\" \"The going private transaction leaves all of the upside to Michael Dell and an opportunistic buyout group with only their own interests in mind,\" the letter said. Icahn is known for hostile bids and efforts to take over companies he sees as undervalued. Dell unveiled plans to go private in February, giving founder Michael Dell a chance to reshape the former number one PC maker away from the spotlight of Wall Street. The move, which would delist the company from stock markets, could ease some pressure on Dell, which is cash-rich but has seen profits slump, as it tries to reduce dependence on the slumping market for personal computers.

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*

Arab Today, arab today dell asks for details on icahn bid Arab Today, arab today dell asks for details on icahn bid

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
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