Icahn Proposes Dell Commence Tender Offer For $1.1B At $14 Per Share

Posted on Jun 18 2013 - 11:32pm by Editorial Staff

Dell

With lastly we reported that Dell asked its shareholders to vote in favor of its Michael Dell in the special shareholders meeting which is going to take place on July 18, a whole new swing comes into existence today – thanks to the activist investor Carl Icahn. According to CNBC, Carl Icahn has introduced a new offer to purchase $1.1 billion of the Dell’s stock at $14 per share. Interestingly, this is the price higher than what both Michael Dell and Silverlake are offering.

Here is an open letter published Tuesday to Dell shareholder in which it has been said that Icahn was “proceeding to obtain commitments for $5.2 billion of senior debt financing to be made available to Dell as a bridge loan to guarantee the tender offer.” While if the move come true, then Icahn going to be the company’s largest external shareholder.

 

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