GO
Loading...

Dell 'Welcomes' Carl Icahn to Go-Shop Process

Thursday, 7 Mar 2013 | 6:17 AM ET
Getty Images

Dell on Thursday said it welcomed Carl Icahn, who has built up a 100 million share stake in the company, and other interested parties as the computer maker seeks to go private.

The special committee appointed by the board said it was conducting a "robust go-shop process" and was looking at other alternatives after a $24.4 billion buyout led by founder Michael Dell faced opposition from some shareholders.

On Wednesday, CNBC reported that Carl Icahn had built up a 6 percent stake in Dell and wanted the company to conduct a leveraged recapitalization.

"Evercore Partners, an independent financial advisor to the Special Committee, is actively soliciting third parties to determine their potential interest and is incentivized to find a superior proposal if one exists," the special committee said in a statement.

"The process will run through March 22, 2013, after which negotiations will continue if a potentially superior proposal emerges. Our goal is to secure the best result for Dell's public shareholders — whether that is the announced transaction or an alternative."

Icahn has asked Dell to pay a one-time dividend of $9 a share instead of the $13.65 a share offer from Michael Dell and the private equity firm Silver Lake Partners.

Dell shares closed at $14.32 on Wednesday and were up 0.2 percent in pre-market trade on Thursday. (Click here to get the latest quote.)

  Price   Change %Change
4331
---
EVR
---

Featured

Contact Technology

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More
  • Matt Hunter is the senior technology editor at CNBC.com.

  • Cadie Thompson is a tech reporter for the Enterprise Team for CNBC.com.

  • Working from Los Angeles, Boorstin is CNBC's media and entertainment reporter and editor of CNBC.com's Media Money section.

  • Jon Fortt is an on-air editor. He covers the companies, start-ups, and trends that are driving innovation in the industry.

  • Lipton is CNBC's technology correspondent, working from CNBC's Silicon Valley bureau.

  • Mark is CNBC's Silicon Valley/San Francisco Bureau Chief covering technology and digital media.