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Carl Icahn retreats from Dell takeover battle, says he is done

Carl Icahn says he is finished trying to battle Michel Dell over the privatization of Dell Computers (NASDAQ:DELL)

| Business, Financial & Legal News | Posted: Sep 10, 2013 1:46 am

Carl Icahn has called it quits and given up his fight to take control of Dell Computers. Icahn announced his intent to cease his fight to take over control of Dell in a newsletter he sent out to shareholders earlier today. This leaves the door wide open for Dell CEO Michael Dell to finally take the company private after 14 long months of Icahn's blockade.

 

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Michael Dell, along with private equity firm Silver Lake, will come together to purchase all outstanding shares of the company for $25 billion in an effort to take it private. Dell has agreed to pay $13.75 per share, issuing a one-time dividend to shareholders in exchange for a modification to the way votes are tallied. This new method will ensure that only votes that are actually submitted will count towards the final tally, thus giving Dell and Silver Lake control of the company.

NEWS SOURCES:Techspot.com

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