Dell Board Committee Seeks More Info On Icahn Plan

The Associated Press
May 13, 2013

Dell board members say they need more details from investor Carl Icahn if he wants them to seriously consider his latest challenge to Michael Dell's $24.4 billion plan to take the computer maker private.

Icahn and prominent Dell shareholder Southeastern Asset Management said last week they want to keep Dell Inc. publicly traded and give shareholders $12 in cash or more shares.

But a Dell board special committee says that proposal comes with many unanswered questions. They say they need more details on financing and who will run Dell, among other items.

An investment group led by company founder Michael Dell offered earlier this year to pay $13.65 per share to take the Round Rock, Texas, company private. Icahn and other shareholders say that price is too low.

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