Printed from http://www.electronista.com

Carl Icahn backs down from Dell fight, won't seek share rights

updated 12:56 pm EDT, Fri October 4, 2013

Move signals final end to dispute

Carl Icahn has backed down once again from his ongoing dispute with Dell over the company's move to go private. In a Twitter post, the activist investor noted that he would no longer seek "appraisal rights" for his stake in the company, which would have taken the disagreement over share value to a Delaware court.

"I withdrew my demand for appraisal of my Dell shares," the tweet read, as quoted by Reuters. "Based on our returns on capital, we believe we have better uses for $2 billion."

Icahn initially attempted to block the privatization effort spearheaded by Michael Dell, arguing that the $25 billion proposal undervalued the company at $13.75 per share. The investor suggested he was willing to pay up to $18 per share, fire the board and oust Michael Dell, however he later backed out of the potential deal.

The privatization process is expected to be finalized by the third quarter, following regulatory approval earlier this month.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Samsung Galaxy S 5

The Samsung Galaxy S5 might be the phone that Android users have been craving for some time. Information coming out of Mobile World Co ...

STM Trust technology bag

The search for a good messenger bag that doubles as a laptop bag is something many travelers find themselves facing at least once. Bet ...

PenClic Bluetooth mouse

Windows 8 aside, computer users have been trained that a mouse is the proper way to navigate through the desktop for many years now. T ...

Sponsor

toggle

Most Commented

 
toggle

Popular News