Reuters: Technology News: Icahn, Southeastern propose alternative to Dell buyout deal: WSJ

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Icahn, Southeastern propose alternative to Dell buyout deal: WSJ May 10th 2013, 04:49 Tweet Share this Email Print Related News BMC to go private in $6.9 billion deal led by Bain, Golden Gate Mon, May 6 2013 Dell investors may still gain after Blackstone pullout: Barron's Sun, Apr 28 2013 Dell shares at two month low after Blackstone pulls out Fri, Apr 19 2013 UPDATE 2-Dell shares at 2-month low after Blackstone pulls out Fri, Apr 19 2013 Deals of the day -- mergers and acquisitions Fri, Apr 19 2013 Analysis & Opinion BMC deal shows how activist playbook brings profit A Dell laptop computer is pictured in New York in this August 26, 2008 file photograph. Credit: Reuters/Brendan McDermid/Files Fri May 10, 2013 12:49am EDT (Reuters) - Activist investor Carl Icahn and Southeastern Asset Management Inc, two of Dell Inc's largest shareholders, have proposed an alternative to a $24.4 billion buyout deal led by founder Michael Dell, the Wall Street Journal reported. Icahn and Southeastern, both vocal opponents of the deal, proposed giving Dell shareholders the option to keep holding stock in the company and take an additional $12 a share in cash or stock in a letter to Dell's board Thursday night, the paper said. The letter said Icahn and Southeastern together hold 13 percent of Dell's stock. The duo have argued that the buyout effort from Michael Dell and private-equity firm Silver Lake Partners significantly undervalues the company, according to the paper. In April, Blackstone pulled out just a month after it launched a challenge to the billionaire's attempt to take Dell private. Icahn and Blackstone each offered alternatives that would keep part of the company public. Representatives for the PC maker could not immediately be reached for comment by Reuters outside of regular U.S. business hours. (Reporting by Sakthi Prasad in Bangalore; Editing by Edwina Gibbs) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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