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Icahn Buys 4 Mln Shares In Dell

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8/6/2013 12:17 AM ET

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.

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by RTT Staff Writer

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