The special committee of the board of directors of Dell Inc has formally asked Carl Icahn for specific details of the plan to be implemented that would have the computer maker pay dividends and issue shares as he has proposed. This is the clarification sought in the midst of the recommended candidates for the Dell board as submitted by the billionaire investor.
Icahn is working with Asset Management Inc to challenge the bid made by founder Michael Dell with Silver Lake Partners for the world's third largest PC maker. Icahn nominated 12 board of directors candidates which included himself.
Icahn's proposal assumes that nearly 80% of the company shareholdings would opt for a cash payout which translates to a maximum outlay of nearly US$16.8 billion.
The board recommended by Icahn includes Bernard Lanigan Jr, CEO of Southeast Asset Advisors, Rahul Merchant, NYC's chief exectuiver officer and Jonathan Christodoro, managing director at Icahn Capital. Other nominees are Icahn Enterprises President Daniel Ninivaggi, Harry Debes from Advent International Corp.
Join the Conversation