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Icahn to Dell committee: don't change voting rules

Michael Dell
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Michael Dell

Activist investor Carl Icahn urged Dell special committee to not change voting rules, as proposed by the company's founder Michael Dell, which would make it easier for a CEO-led group to take the personal computer maker private.

The CEO and partner Silver Lake last week raised their $24.4 billionbid by less than 1 percent hours before it was to be put to a vote, and added on a controversial demand to change voting rules to make it easier for his group to take the company private.

Icahn, who has amassed an 8.7 percent stake in Dell and is leading a charge with Southeastern Asset Management against the buyout with an offer of his own, said the shareholder protection offered by the original rules were too important to waive at virtually any price.