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

Advertisement

Recent Reviews

Brother HL-L8250CDN Color Laser Printer

When it comes to selecting a printer, it's not exactly something most people put a lot of thought into. Printers are often touted as f ...

Moshi iVisor AG and XT for iPad Air 2

Have you ever tried to put in a screen protector that relies on static to cling to the screen? How many bubbles and wrinkles does it h ...

Epson PowerLite Home Cinema 3500 projector

Trying to find the perfect projector for a home theater can be tricky, as there are bountiful options on the market from a large numbe ...

Advertisement

toggle

Most Commented

 
toggle

Popular News