Wednesday, June 20, 2018
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Verizon, Sprint, AT&T and T-Mobile To Stop Sharing Cell Phone Location Data
Hackers Breached Satellite, Defense Companies
Benchmarks With the 32-core AMD Threadripper Appear Online
Facebook Offers More Tools To Video Creators
Western Digital Adds 12TB Western Digital Purple Drive to Surveillance Portfolio
Toshiba Delivers RM5 vSAS Series SSDs Targeting SATA Applications
Noctua launches CPU Coolers for LGA3647 Intel Xeon Platforms
Google to Bring Support for Android Messages to Desktop Browser
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > Icahn M...
Last 7 Days News : SU MO TU WE TH FR SA All News

Friday, July 12, 2013
Icahn Makes Higher Offer For Dell


Carl Icahn and his allies are offering Dell shareholders a chance to own a bigger stake in Dell, seeking to force Michael Dell to sweeten his $24.4 billion buyout offer for computer maker.

The latest proposal from Icahn maintains his offer of $14 per share for up to 71 percent of Dell stock, but adds one warrant for every four Dell shares, entitling the holder to one share of Dell at $20.

Icahn and Southeastern Asset Management, which also opposes the go-private plan led by company founder Michael Dell, said the new offer is worth between $15.50 and $18 a share, compared with $13.65 in the buyout plan.

Responding to Carl Icahn's latest offer, the Special Committee of the Board of Dell issued the following statement:

"We are today reviewing the fifth proposal from Carl Icahn, which would include issuance of warrants in connection with the self-tender proposal he previously outlined. We are working with our advisors to evaluate whatever benefits might flow to shareholders from the warrant he has proposed to include in his structure. We would note that a portion of any value attributed to the warrants would be offset by a reduction in the value of the recipients' stub equity, as well as the fact that receipt of the warrant would likely be a taxable event. We have been and remain willing to meet or talk with Mr. Icahn about his various proposals, including at a meeting scheduled earlier this week which he requested and subsequently cancelled.

"More broadly, it is important to note that all of Mr. Icahn's various proposals require abandoning an all cash transaction at a substantial premium with a high degree of closing certainty that shifts all of the risks of the business to the buying group in exchange for a highly speculative recapitalization concept that relies upon the future value of a leveraged public technology company. We have studied variations on this theme for months and continue to have substantial reservations about that value proposition.

"Most important, we believe it is critical that Dell shareholders not be distracted from the clear choice they must make next week - take $13.65 per share in cash or bear the risks of continuing to hold their Dell shares."

Before Icann's latest proposal, the special committee described Icahn's statements about appraisal rights as "misleading."

Earlier this week, proxy advisory firm Institutional Shareholder Services recommended that Dell shareholders vote for the transaction.

Dell stockholders will consider their options and will decide on Dell' s future at the company's Special Meeting to be held on Thursday, July 18 at 8:00 a.m. CDT.


Previous
Next
Windows Phone 8 GDR2 Update Brings New Features        All News        LG Inrtoduces New LA9700 Ultra HDTV Series
Dropbox, WordPress Used To Spread Malware     General Computing News      Microsoft Helped NSA Get Access to Outlook.com, Skype, Encrypted Messages: report

Get RSS feed Easy Print E-Mail this Message

Related News
Dell Introduces New Inspiron Gaming Desktop, Alienware Wireless headset and Elite Gaming Mouse
Dell and Alienware Update Their Portfolio of Performance Gaming Laptops
HPE and Dell Server Sales Soar in Q4
Dell Evaluating Potential Business Opportunities
CES: Dell Releases New PCs, Dell Mobile Connect Will Sync Messages, With iPhone and Android
Dell Redesigns the XPS 13 Laptop
HPE and Dell Continue to Lead the Storage and Server Markets
Dell's Black Friday and Cyber Monday Deals Are Launching Now
Dell is Doubling Down on the Internet of Things
The New Dell Inspiron 5000 Series Now Available
Dell Sees Solid Growth in Worldwide PC Monitor Market
Dell and Alienware Debut New Gaming Rigs and Monitors

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2018 - All rights reserved -
Privacy policy - Contact Us .