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Friday, February 26, 2021

Icahn files lawsuit over latest Dell buyout offer

Dell Inc. headquarters                                              File art     The Associated Press   Activist investor Carl Icahn is suing Dell Inc. to prevent the PC maker from changing crucial details of a buyout offer from founder Michael Dell that Icahn stridently opposes.   Icahn’s complaint seeks to prevent the company from setting a new record date for a special meeting at which shareholders will vote on an offer that Dell recently raised.   Dell and the Round Rock, Texas, company agreed months ago on a deal in which Michael Dell will buy the company for $24.4 billion, or $13.65 per share. Dell has since raised that offer to $13.75 per share, and a board committee has proposed changing the record date, which would allow a bigger pool of stock owners to cast ballots.   Dell shareholders are scheduled to vote today on the $13.65-per-share offer.    

Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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