Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Dell Committee Reminds Icahn Need For Additional Information - Quick Facts

The Special Committee of the Board of Dell Inc. (DELL: Quote) sent a letter to Carl Icahn and Southeastern Asset Management underscoring its need for additional information regarding the proposed leveraged recapitalization transaction submitted on May 9.

"As you know, on May 13, 2013 we sent you a letter requesting clarifications and additional materials relating to your proposal. Unless the Board determines that your proposal could reasonably be expected to result in a "Superior Proposal", we are not permitted to provide you with information or engage in discussions concerning your proposal," Dell Special Committee stated in the letter.

Dell Special committee said unless it receive information that is responsive to its May 13 letter, the company is not in a position to evaluate the Icahn proposal.

The letter from the Special committee was in response to a number of requests for information, including a request for data room access for a potential lender, to advisors to the Special Committee of the Board of Dell Inc. in connection with the potential transaction.

Click here to receive FREE breaking news email alerts for Dell Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Fashion retailer Gap Inc. said Thursday after the markets closed that its second quarter profit rose 10% from last year, helped by higher sales and a gain from asset sale. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarter sales. Separately, Gap announced plans to enter India through franchise-operated Gap brand stores in 2015. While buying interest was somewhat subdued, stocks moved mostly higher over the course of the trading day on Thursday. The gains on the day extended the recent upward trend by the markets, lifting the S&P 500 to a new record closing high. Republicans have not found much to like about President Barack Obama's nearly six years in office, but the results of a new Washington Post-ABC News poll show that a vast majority support the president's decision to launch airstrikes in Iraq.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.