Icahn caves on Dell again, will not seek share rights
Quotes

Icahn caves on Dell again, will not seek share rights

Last Updated: Friday, October 4, 2013, 22:22
 
 Comment 0
 
Icahn caves on Dell again, will not seek share rights
San Francisco: Activist investor Carl Icahn, who ended his months-long campaign against Michael Dell's planned buyout of Dell Inc(DELL.O) last month, on Friday signaled his final retreat from the struggling personal computer maker.

The billionaire, who opposed Michael Dell's $25 billion offer to take Dell private, tweeted he will no longer seek "appraisal rights" for his shares, a legal process under which investors can try to get a Delaware court to determine the fair value of the stock.

"I withdrew my demand for appraisal of my Dell shares. Based on our returns on capital, we believe we have better uses for $2 billion," the billionaire tweeted.

Icahn last month ended his months-long effort to block the deal, smoothing the way for the largest buyout since the financial crisis. Icahn, the company's second largest shareholder at the time, said he would no longer try to head off the deal, and that a war with the billionaire founder and the company's board "would be almost impossible to win."

Reuters



First Published: Friday, October 4, 2013, 22:22


Comments


comments powered by Disqus
World Economic Forum 2015
World Economic Forum 2015
G20 Summit 2014
G20 Summit 2014
2014`s Top People in Business: Fortune
2014`s Top People in Business: Fortune
World Bank`s Top 10 Places for Business
World Bank`s Top 10 Places for Business
India`s top ten billionaires
India`s top ten billionaires

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved