MacNN Forums (http://forums.macnn.com/)
-   Tech News (http://forums.macnn.com/tech-news/)
-   -   Carl Icahn backs down from Dell fight, won't seek share rights (http://forums.macnn.com/113/tech-news/504688/carl-icahn-backs-down-dell-fight/)

 
NewsPoster Oct 4, 2013 02:07 PM
Carl Icahn backs down from Dell fight, won't seek share rights
Carl Icahn has backed down once again from his ongoing dispute with Dell over the company's <a href="http://www.electronista.com/articles/13/09/12/dell.buyout.worth.249b.to.proceed.complete.by.fisc al.q3.2014/">move to go private</a>. In a Twitter post, the activist investor noted that he would no longer seek "appraisal rights" for his stake in the company, which would have taken the disagreement over share value to a Delaware court. <br /><br />"I withdrew my demand for appraisal of my Dell shares," the tweet read, as quoted by <em>Reuters</em>. "Based on our returns on capital, we believe we have better uses for $2 billion."<br />
<br />
Icahn initially attempted to block the privatization effort spearheaded by Michael Dell, arguing that the $25 billion proposal undervalued the company at $13.75 per share. The investor suggested he was willing to pay up to $18 per share, fire the board and oust Michael Dell, however he later backed out of the potential deal.<br />
<br />
The privatization process is expected to be finalized by the third quarter, following <A href="http://www.electronista.com/articles/13/10/01/silver.lake.deal.worth.25b.to.complete.by.november .1st/">regulatory approval</a> earlier this month.
 
All times are GMT -4. The time now is 05:46 PM.

Copyright © 2005-2007 MacNN. All rights reserved.
Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2014, vBulletin Solutions, Inc.


Content Relevant URLs by vBSEO 3.3.2