carl icahn

Michael Dell reportedly advised to raise offer in privatization bid

After examining Carl Icahn's revised offer backed by secured financing, a special Dell committee reportedly has advised Michael Dell to raise his $24.4 billion offer to take the computer maker private.

The special committee of Dell's board managing the computer maker's effort to go private told Dell's founder and chief executive a few days ago that he should submit a higher offer if he wants his proposal to succeed, a source familiar with the matter told Reuters. The committee reportedly reached that conclusion after meeting with investors as well as a pending recommendation by investment … Read more

Carl Icahn, Jefferies nab $5.2B to finance Dell deal -- report

Activist investor Carl Icahn, along with his partner Jefferies & Co., have secured billions in financing for their Dell bid, a new report claims.

The investors have secured $5.2 billion in loans from several banks and institutional investors, Reuters is reporting, citing people who claim to have knowledge of the deals. Those funds will help Icahn and company finance their Dell buyout proposal.

According to Reuters' sources, the $5.2 billion includes a 6-year loan worth $2.2 billion, as well as a 3.5-year loan for $3 billion. The sum is part of a much broader plan on … Read more

Dell special committee says Icahn bid lacks credibility

Activist investor Carl Icahn's bid for Dell lacks credibility, the computer maker's board said in a regulatory filing Monday.

The comments echo remarks made last week by the group managing Dell's efforts to go private. At that time, the board rejected the latest takeover proposal put forth by Icahn as lacking key details necessary for its approval.

In a Securities and Exchange Commission filing on Monday, the board said that Icahn "has failed to provide any of the key provisions and mechanics" of letters he sent on May 9 or June 18, as requested by … Read more

Carl Icahn joins Twitter with a funny plea for Dell

As the battle between activist investor Carl Icahn and Dell's board heats up, Icahn has joined Twitter.

So what? Well, his first tweet is a funny jab -- or plea -- signaling his desire to takeover Dell.

Twitter is great. I like it almost as much as I like Dell.

— Carl Icahn (@Carl_C_Icahn) June 20, 2013 Icahn, who is a billionaire, is known for shaking up certain corporations by buying up lots of shares and then demanding they do things his way.

Take Dell, for example. Icahn publicly opposed the idea of taking the company private via a $24.4 billion buyout, … Read more

Dell special committee slams new Icahn plan as incomplete

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.

Earlier Tuesday, Icahn proposed in a letter to shareholders that Dell buy back 1.1 billion shares at $14 as an alternative to the plan to take the company private proposed by company founder Michael Dell and Silver Lake Partners. Icahn also announced that he had purchased 72 million Dell shares from proxy fight partner Southeastern Asset Management, making him the second largest … Read more

Dell tells shareholders to vote for Michael Dell deal

Michael Dell got his wish: his board of directors says shareholders should vote for his proposal that would take the company private.

Dell's Special Committee of the Board of Directors on Wednesday filed an investor presentation with the Securities and Exchange Commission (SEC) that supports the $13.65-per-share offer Michael Dell and Silver Lake Partners made earlier this year for the company.

In a statement on Wednesday, Dell's Committee said that the deal, which will take Dell private if approved by shareholders, is the "best possible outcome for shareholders."

The Special Committee ended its statement today … Read more

Dell asks for more information on Icahn bid

A Dell committee tasked with evaluating which buyout bid would be best for the company's shareholders is willing to give activist investor Carl Icahn more of its time.

In a letter sent to Icahn on Monday, Dell's Special Committee requested additional information regarding a memo he sent to the company on May 9 offering either $12 per share in cash or $12 in additional shares for each share currently held by stockholders. In the letter to Icahn, the committee said that it was "not clear" if his offer was "an actual acquisition proposal" or … Read more

Carl Icahn targets Dell, HP before the PC goes 'downhill'

We know Carl Icahn wants to buy Dell. But he also has his eye on the other half of the U.S. PC industry. But don't worry, this will all happen before the PC dies.

The other half would be Hewlett-Packard. Icahn is pondering the merger of Dell with HP, according to comments he made to Bloomberg TV on Friday.

Michael Dell needs to be fired first, though.

"We think it's very important that you have a new CEO [at Dell]...We need more than a bit of a cultural change at Dell. Michael Dell, I just … Read more

Carl Icahn proposes alternative to $24.4B Dell buyout deal

Investor Carl Icahn and Southeastern Asset Management have teamed up to offer an alternative to the $24.4 billion buyout deal now before the company's stockholders.

The pair -- two of the computer maker's largest shareholders -- have proposed giving stockholders the option of holding on to their stock in the company and take an additional $12 a share in cash or stock, according to The Wall Street Journal and CNBC.

CNET has contacted Dell for comment and will update this report when we learn more.

The proposal, reportedly made in a letter to Dell's board of … Read more

Dell CEO said to mull Blackstone buyout only with CEO assurance

It was assumed just a couple of months ago that Dell would go private with a $24.4 billion buyout under founder and CEO Michael Dell and private equity firm Silver Lake.

But several wrenches have been thrown into that plan.

Dell confirmed earlier this week that it had two possibly "superior" buyout bids, one coming from activist investor Carl Icahn and the other from private equity firm Blackstone. This means that if one of these two other potential bidders gets the prize, there could be a monumental power shift in the company.

Michael Dell is allegedly now … Read more