‘Icahn’ Tagged Posts

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.

Icahn builds Dell stake, complicating buyout: CNBC

 

Icahn builds Dell stake, complicating buyout: CNBC

activist investor Carl Icahn has built a stake of nearly 100 million shares of Dell Inc. and hopes that the PC manufacturer to perform a leveraged recapitalization, which attempts founder Michael Dell to take the private company, CNBC reported.

Icahn, known for management to shake, has an interest in Dell 6 percent of the company collected, CNBC cites sources close to the capital as saying Wednesday.

This would be the billionaire investor known for demanding business strategy, the largest shareholder after Southeastern Asset Management, based on already available data.

The network reported that Mr. Icahn Dell wanted to borrow as much as $ 9 billion and a special dividend to the shareholders, and probably against the agreement.

Shares of Dell closed almost 1.8 percent higher than $ 14.32.

Icahn did not respond to requests for comment.

Icahn on stage is usually companies – and their boards – on guard, because the outspoken activist investor has a reputation for aggressively demanding change by implementing investments in target companies

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Michael Dell has signed an agreement to acquire privately No. 3 maker of personal computers, has made it into a dormitory in 1984 and works with the private equity house Silver Lake and Microsoft Corp. But 24400000000 dollar deal is set against a number of major shareholders from Dell, including Southeastern Asset Management, said the deal significantly undervalued the company.

Southeast wondered whether to partner with another company to a counter-offer many of Michael Dell, the Wall Street Journal to try, citing people familiar with the matter.

Southeast demanded Tuesday that Dell opens the books, signage, it would become more active in their opposition to the offer.

Blackstone Private Equity Group is looking Dell books under the go-shop period, although the group’s interest is preliminary at this stage, a source familiar with the situation.

Blackstone declined to comment.

A special committee of the board of directors of Dell said earlier Wednesday the pending sale of the PC manufacturer was the best option for shareholders, despite opposition from its shareholder interest outside.

The committee, that the situation of Dell analyzing more than five months, said he also considered alternatives such as leveraged recapitalizations, changing dividend policy, the sale of parts of the company and working with the business plan the company today.

active investment

Ichan, a billionaire investor who made his name in the 1980s with the hostile takeover of TWA, is known for its colorful speech – as during his now infamous expletive prey to the antenna spat with fellow -Wall Street player Bill Ackman on the future of Herbalife. It is also famous for having led fierce battles with management about what he sees as the right business strategy.

Some of his recent fights include an attempt to trucks and military vehicles OshKosh Corp., which was eventually abandoned support, and campaign for a dividend higher oil services company Transocean.

Beyond offering and buying shares on the public markets, the investor also lawsuits as a long struggle against Hollywood studio Lions Gate.

More recently Icahn reported a huge profit after buying a nearly 10 percent stake in Netflix Inc. in September, when he categorically stated that buyers are interested in video-streaming service waiting in the wings – not have emerged.

participation Dell Icahn likely to make it difficult for Michael Dell to buy the company, especially if the opposition decision.

Dell Special Committee is currently asking propose alternatives to many of Michael Dell. Investment bank Evercore conducts this process, which ends March 22.

Michael Dell’s goal is to make the difficult transition from a Dell computer manufacturer to facilitate a provider of business services as a private company, far from the eyes of Wall Street.

But since the deal was announced, some investors have said that the price was too low.

Shareholders representing nearly 14 percent of Dell’s actions, on the southeast with a participation of more than 8 percent, including options, said they would vote against the proposed acquisition. The third-largest shareholder, T. Rowe Price, has opposed the agreement.

(report Soyoung Kim, Poornima Gupta and Liana B. Baker, edited by Gerald E. McCormick, Grant McCool, Bernard Orr and Carol Bishopric)