icahn

Dell tells shareholders to vote for Michael Dell deal

Michael Dell got his wish: his board of directors says shareholders should vote for his proposal that would take the company private.

Dell's Special Committee of the Board of Directors on Wednesday filed an investor presentation with the Securities and Exchange Commission (SEC) that supports the $13.65-per-share offer Michael Dell and Silver Lake Partners made earlier this year for the company.

In a statement on Wednesday, Dell's Committee said that the deal, which will take Dell private if approved by shareholders, is the "best possible outcome for shareholders."

The Special Committee ended its statement today … Read more

Dell asks for more information on Icahn bid

A Dell committee tasked with evaluating which buyout bid would be best for the company's shareholders is willing to give activist investor Carl Icahn more of its time.

In a letter sent to Icahn on Monday, Dell's Special Committee requested additional information regarding a memo he sent to the company on May 9 offering either $12 per share in cash or $12 in additional shares for each share currently held by stockholders. In the letter to Icahn, the committee said that it was "not clear" if his offer was "an actual acquisition proposal" or … Read more

Carl Icahn targets Dell, HP before the PC goes 'downhill'

We know Carl Icahn wants to buy Dell. But he also has his eye on the other half of the U.S. PC industry. But don't worry, this will all happen before the PC dies.

The other half would be Hewlett-Packard. Icahn is pondering the merger of Dell with HP, according to comments he made to Bloomberg TV on Friday.

Michael Dell needs to be fired first, though.

"We think it's very important that you have a new CEO [at Dell]...We need more than a bit of a cultural change at Dell. Michael Dell, I just … Read more

Carl Icahn proposes alternative to $24.4B Dell buyout deal

Investor Carl Icahn and Southeastern Asset Management have teamed up to offer an alternative to the $24.4 billion buyout deal now before the company's stockholders.

The pair -- two of the computer maker's largest shareholders -- have proposed giving stockholders the option of holding on to their stock in the company and take an additional $12 a share in cash or stock, according to The Wall Street Journal and CNBC.

CNET has contacted Dell for comment and will update this report when we learn more.

The proposal, reportedly made in a letter to Dell's board of … Read more

Icahn to limit Dell stake but can talk with other investors

Activist investor Carl Icahn has agreed to limit his stake in Dell but will be allowed to speak with other investors about a bid to buy the PC maker.

In a filing today with the Securities and Exchange Commission, Dell said that its special committee has reached an agreement with Icahn. The agreement bars Icahn from buying more than 10 percent of Dell's shares or partnering with other shareholders to own more than 15 percent of Dell. However, as part of the pact, Icahn has been granted a limited waiver that allows him to "engage" with other … Read more

Dell CEO said to mull Blackstone buyout only with CEO assurance

It was assumed just a couple of months ago that Dell would go private with a $24.4 billion buyout under founder and CEO Michael Dell and private equity firm Silver Lake.

But several wrenches have been thrown into that plan.

Dell confirmed earlier this week that it had two possibly "superior" buyout bids, one coming from activist investor Carl Icahn and the other from private equity firm Blackstone. This means that if one of these two other potential bidders gets the prize, there could be a monumental power shift in the company.

Michael Dell is allegedly now … Read more

Dell board weighs competing takeover offers, report says

PC maker Dell has a competition on its hands to see who'll take over the company.

Until this weekend, a group led by founder Michael Dell had seemed to have things mostly sewn up with their $24.4 billion plan for putting an end to the Texas-based company's days as a publicly traded entity.

But now things have apparently gotten more complicated for Dell's board of directors. Reuters is reporting today, citing a source, that a special board committee is evaluating a pair of last-minute preliminary proposals, one from asset management firm Blackstone Group and the other … Read more

Dell buyout could be impeded by possible Blackstone bid

Blackstone is reportedly looking to get its hands on Dell before the Silver Lake and Michael Dell $24.4 billion buyout is complete.

According to Bloomberg, the asset management firm is supposedly considering a bid that could out-do what Silver Lake offered for the Dell acquisition. People familiar with the matter told Bloomberg that Blackstone has not yet made a decision and that it may bid as part of a group of investors. Reportedly, Blackstone has already reviewed Dell's finances after signing a non-disclosure agreement.

Dell announced in February that it had plans to take the company private via … Read more

Icahn, Dell enter confidentiality pact

Carl Icahn's quest for greater influence over PC maker Dell has moved into a new phase.

Icahn Enterprises this morning announced that, as of yesterday, it has entered into a confidentiality agreement with Dell. The only other element in the press release bearing the news was this terse and deadpan sentence: "Icahn Enterprises looks forward to commencing its review of Dell's confidential information."

In recent days, activist investor Icahn has been critical of Dell for its plan to transform itself from a publicly traded company into a privately held one. Under that proposed $24.4 billion … Read more