|Icahn proposes alternative to Dell buyout||| Print ||
|Written by By Associated Press|
|Thursday, 07 March 2013 09:17|
Billionaire investor Carl Icahn is proposing an alternative to the $24.4 billion plan to sell slumping PC maker Dell to a group led by founder Michael Dell, saying it substantially undervalues the company.
Icahn says he favors paying a one-time dividend totaling $9 per share in a move that would allow shareholders to keep their stake in the company.
He says that would be more valuable to shareholders than selling it as negotiated by a special committee of independent Dell directors to sell the company to an investment group for $13.65 per share.
Icahn says that if the board turns down his plan, the company should combine a vote on going private with its annual meeting to elect new directors, for which the investor will nominate candidates.
The Round Rock, Texas, company's special committee says it is conducting a robust search for options outside the buyout.
Copyright 2013 The Associated Press.
|Last Updated on Thursday, 07 March 2013 09:34|