logo
Plus   Neg
Share
Email
Comment

Icahn Buys 4 Mln Shares In Dell

Activist investor Carl Icahn bought 4 million more shares of Dell, Inc. (DELL), 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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Amazon.com Inc. (AMZN) said Thursday that it has chosen the 20 metropolitan areas to move to the next phase of the selection process for the company's second headquarters. The company plans to invest over $5 billion and grow the second headquarters to accommodate as many as 50,000 high-paying jobs. Morgan Stanley (MS) reported net income applicable to company of $686 million, or $0.29 per share for the fourth quarter ended December 31, 2017. The results for the current quarter included a net discrete tax provision of $990 million or a loss of $0.55 per share. Excluding net discrete tax items, net... Cannae Holdings, Inc. said Wednesday that its portfolio company, Ceridian HCM Holding Inc., has confidentially filed for an initial public offering. Ceridian HCM, a provider of human resources software and services, filed a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission relating to the proposed IPO of its common stock.
comments powered by Disqus
Follow RTT