Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Icahn Buys 4 Mln Shares In Dell

Activist investor Carl Icahn bought 4 million more shares of Dell, Inc. (DELL: Quote), thus strengthening his position in the personal computer maker, a regulatory filing showed.

Icahn made the purchase on August 1 at a price of $12.94 per share. He now holds 156.48 million shares of Dell or an 8.9 percent stake in the company.

Icahn, who had an 8.7 percent stake in Dell prior to the latest transaction, is the second largest shareholder of Dell. Dell founder and chief executive Michael Dell is the company's largest shareholder.

Round Rock, Texas-based Dell had initially agreed in early February to be taken private for $13.65 per share by Michael Dell in partnership with private equity firm Silver Lake Partners in a $24.4 billion deal.

Icahn has been seeking to scuttle the buyout and has proposed his own plan. Last week, Dell's special committee agreed to a revised deal for the company to be taken private by Dell and Silver Lake.

The revised agreement will increase the aggregate value to unaffiliated shareholders by about $470 million, including a third-quarter dividend, and now take the total deal value to about $24.9 billion.

DELL closed at $13.68 on Monday.

Register
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
Citing extreme fluctuation of the ruble, Apple Inc. (AAPL) has reportedly discontinued its online sales of products in Russia. Despite efforts of the Russian central bank, the ruble has been spiraling downward, with oil prices plunging to historic levels. The ruble shed around 19 percent on Wednesday.... General Motors said it has halted the delivery of cars to dealerships in Russia as it strives to overcome the business risks stemming from the collapse of the ruble. The terrorists, in this case, have won. In an unprecedented move that may have far-reaching cultural and political effects, Sony Pictures has scrapped the release of "The Interview." The plot of the film, a comedy starring Seth Rogen and James Franco, revolves around a fictional assassination...
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.