Carl Icahn won’t seek to defeat Dell buyout but says it ‘greatly undervalues’ company

Carl Icahn will no longer attempt to defeat a $24.9 billion deal to take Dell private, though he maintains that Michael Dell and private equity firm Star Lake are lowballing shareholders.. “We have determined that it would be almost impossible to win the battle on September 12th,” Icahn wrote in a letter to shareholders today. “We therefore congratulate Michael Dell and I intend to call him to wish him good luck (he may need it).” Icahn is claiming a small victory, however; he points to the sweetened final offer from Michael Dell as proof that the company founder was feeling pressured by Southeastern. “As a result of this increase all stockholders are to receive many hundreds of millions of dollars more than the board originally…

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Author: Daily Tech Whip

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