Carl Icahn Latest News: Dell Special Committee Slams New Icahn Plan as Incomplete

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Carl Icahn Latest News: Dell Special Committee Slams New Icahn Plan as Incomplete

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Carl Icahn Latest News: Dell Special Committee Slams New Icahn Plan as Incomplete

by Wochit 1:01 mins

Carl Icahn Latest News: Dell Special Committee Slams New Icahn Plan as Incomplete

by Wochit 1:01 mins

The special committee of Dell's board managing the computer maker's effort to go private rejected the latest takeover proposal put forth Tuesday by activist investor Carl Icahn as lacking key details necessary for its approval. The current proposal lacks adequate financing and a remedy for the company and its shareholders if his proposal were to fail. The Billionaire investor Carl Icahn told Dell Inc shareholders that an investment bank would help fund his offer for the PC maker as he sought to assuage concerns over his means to fund the bid. In an open letter to Dell shareholders, Icahn said a major investment bank had indicated its willingness to make $1.6 billion available. Carl Icahn stepped up his campaign to take control of Dell, proposing the company make a tender offer of 1.1 billion shares at $14 a share.

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