In a report from the Wall Street Journal, billionaire investor Carl Icahn is adamant in his refusal on the option of a proxy fight in order to force Dell to payout a dividend. This is in response to the Dell board special committee's request to refrain from making such a proxy fight and instead formally bid for the company.
Furthermore, Icahn has formally requested the board's special committee for reimbursement of costs incurred in the conduct of the due diligence review on Dell, as this was given to rival bidders Silver Lake Partners and Blackstone Group LP.
The committee responded that it would consider the request for reimbursement of expenses for discovery. There is a rejoinder though, that he drop his proxy fight right and avoid 'years of litigation'.
The Wall Street Journal report was an interview with the activist investor, saying that with Dell, he is reviewing a wide range of options, such as a dividend through a proxy fight and his preliminary offer to purchase 58% of Dell's shares. He currently has a US$1 billion stake in Dell.
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