CNBC is reporting that American business magnate Carl Icahn said to build stake in Dell with taking 6 percent ownership in the company. The purchase of 100 million shares that taken place in the past few weeks put him in such a position to bring a versatility in front of founder Michael Dell and the consortium to make the company private.
The publication further citing “people familiar with the situation” stated that Icahn has met with advisors for Dell’s special committee who in turn asking Icahn to sign a confidentiality agreement and join the go-shop process which being conducted by the special committee. Icahn is expected to file a 13D on Dell pretty soon.
The move certainly will lead him to take extra funds out of the company:
What is more likely is that Icahn will come out against the deal and argue in favor of Dell levering up its balance sheet to pay shareholders a significant one time dividend. That is the plan being espoused by Dell shareholder Southeastern Asset Management, which holds 8.4 percent of the company and is actively trying to organize shareholders to vote the deal down.