Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Dell Special Committee Says It Will Review Carl Icahn's Latest Proposal

The Special Committee of the Board of Dell Inc. (DELL: Quote) Friday said it is reviewing the latest proposal put forward by Carl Icahn, regarding issuance of warrants in connection with the self-tender proposal he previously outlined.

According to the committee Icahn's various proposals are risky for the buyer as it requires abandoning an all cash transaction at a substantial premium with a high degree of closing certainty.

The committee stated, "We are working with our advisors to evaluate whatever benefits might flow to shareholders from the warrant he has proposed to include in his structure. "

We would note that a portion of any value attributed to the warrants would be offset by a reduction in the value of the recipients' stub equity, as well as the fact that receipt of the warrant would likely be a taxable event.

Meanwhile, the committee has also reminded its shareholders to make payment of $13.65 per share in cash or bear the risks of continuing to hold their Dell shares.

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

Quick Facts

Editors Pick
The Bank of Spain on Wednesday boosted its growth projections for Spain this year and the next after the economy grew at a faster rate in the second quarter. In its monthly economic bulletin, the bank raised the growth forecast for this year to 1.3 percent from the 1.2 percent seen previously. The projection for the next year was lifted to 2 percent from 1.7 percent. Bank of England policymakers unanimously decided to maintain the key interest rate and quantitative easing at the meeting held on July 9 and 10, but signaled the possibility of a rate hike late this year as growth became more established. Apple Inc. said Tuesday after the markets closed that its third quarter profit rose 12% from last year, as sales surged and margins improved amid strong sales of its iPhones and Mac computers. The company's quarterly earnings per share also came in above analysts' expectations, but its quarterly sales fell short of analysts' forecast.
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.