Carl Icahn Lines Up a $5.2 Billion Loan, Wants to Meet with Dell's Board
Billionaire businessman Carl Icahn may ultimately fail in preventing Michael Dell from acquiring the company he founded and taking it private, but he isn't going down without a fight. Icahn keeps coming back to the table with new proposals, and the latest development is that he's seeking a meeting with Dell's board of directors after lining up a $5.2 billion loan.
"With that we put an end to the unwarranted speculation by Dell that our money would not be available," Icahn stated in a letter, according to Reuters.
Icahn, along with Southeastern Asset Management, has offered to pay Dell's shareholders $14 per share while allowing them to hold onto their stock. Michael, meanwhile, is trying to acquire Dell outright with an investment from Silver Lake Partners. His offer is for $24.4 billion, or $13.65 per share. Dell's board has unanimously voted to approve the sale, but Icahn has held firm that the price undervalues the PC maker.
Whether or not proof of Icahn's financing changes things remains to be seen, but one thing we know for sure is that this isn't likely to be the last we hear from him.
"With that we put an end to the unwarranted speculation by Dell that our money would not be available," Icahn stated in a letter, according to Reuters.
Icahn, along with Southeastern Asset Management, has offered to pay Dell's shareholders $14 per share while allowing them to hold onto their stock. Michael, meanwhile, is trying to acquire Dell outright with an investment from Silver Lake Partners. His offer is for $24.4 billion, or $13.65 per share. Dell's board has unanimously voted to approve the sale, but Icahn has held firm that the price undervalues the PC maker.
Whether or not proof of Icahn's financing changes things remains to be seen, but one thing we know for sure is that this isn't likely to be the last we hear from him.
