You can now read 5 articles in a month for free on Read as much as you want anywhere and anytime for just 99¢.

Icahn seeks alternative Dell deal

ROUND ROCK, Texas — Billionaire investor Carl Icahn wants Dell Inc. to remain a public company and proposes rewarding shareholders with a large dividend payment instead of going private in a $24.4 billion buyout.

He said the amount being offered by a group led by Dell founder and chief executive Michael Dell undervalues the slumping PC maker.

Continue reading below

Icahn wrote in a March 5 letter to Dell directors that the company should chose his alternative, which would involve a special dividend of $9 per share, if shareholders reject the buyout plan that was announced last month.

If the board declines to promise that, Icahn said, the company should combine a shareholder vote on the buyout with its annual meeting to elect new directors, for which he will nominate a slate of candidates.

Michael Dell, backed by other investors led by the investment firm Silver Lake, is trying to buy out the company for $13.65 per share.

The company has been trying to reduce its dependence on personal computers, which are becoming tougher to sell as more people switch to smartphones and tablet ­computers.

Loading comments...
Want each day's news headlines delivered fresh to your
inbox every morning? Just connect with us
in one of the following ways:
Please enter a valid email will never post anything without asking.
Privacy Policy
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of