Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

Icahn to seek court appraisal of $24.4B Dell deal

[July 11, 2013]  NEW YORK (AP) -- Billionaire investor Carl Icahn says he will ask a Delaware judge to assess whether a proposed $24.4 billion acquisition of Dell represents a fair price for the struggling personal computer maker. It is Icahn's latest attempt to wrangle a higher offer from buyout group that includes company CEO Michael Dell.

Icahn, Dell Inc.'s second largest shareholder, outlined the rationale for his legal maneuver Wednesday in an open letter. The missive urged the rest of Dell's shareholders to exercise their right for a court appraisal to determine whether the Round Rock, Texas, company is worth more than the $13.65 per share that Michael Dell's group has agreed to pay.

The push for an appraisal comes just two days after Icahn suffered a setback when three shareholder advisory firms recommended accepting the current offer.

[Associated Press]

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.