Icahn refuses to drop proxy fight option: WSJ

billionaire investor Carl Icahn refused the option of a proxy fight to force Dell Inc. to a large dividend to remove, despite the request of the co...


Icahn refuses to drop proxy fight option: WSJ

billionaire investor Carl Icahn refused the option of a proxy fight to force Dell Inc. to a large dividend to remove, despite the request of the committee of the Board that his threats to leave a start formal offer for the company, the Wall Street Journal.

Icahn asked the Special Committee of the Board to reimburse the costs of due diligence on Dell, an advantage that the committee has already given to rival bidders Silver Lake Partners and Blackstone Group LP.

In response to Icahn on Friday, the commission said it would consider the request Icahn to the cost of its adoption costs, but only if he dropped his rights in a race proxies and threats “years of litigation.”

In an interview with the Wall Street Journal, Icahn said he was considering a number of options, including his earlier proposal of a dividend, this would be a proxy contest and prior offer to purchase up to 58 percent of the company. Icahn owns $ 1 billion in Dell, the No. 3 producer of personal computers.

“It does not matter how much they are willing to repay me, I will not give up the right to offer I think it will be binding on the shareholders, even if the Board is it, “Icahn told the newspaper.

Blackstone and Icahn made separately preliminary proposals by the end of March that, if completed, would be greater than the $ 24.4 billion offer to Table of founder Michael Dell and private equity Silver Lake Partners LP.

Blackstone visit the headquarters of Dell on Monday to begin a thorough analysis, a sign buyout is to run an offer, sources told Reuters on Thursday.

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