For those of you not following along at home, Icahn reportedly has amassed a stake of about 6% in Dell, and wants to stop what he sees as the $24 billion giveaway of the company to founder Michael Dell and Silver Lake Partners. Icahn has said the company should pay a special dividend of $9 a share, which values Dell’s stock at around $23 a share, nearly $10 a share higher than the offer from Michael Dell and Silver Lake.
Icahn is not alone in his beef with Dell. Shareholders with nearly 15% of the company’s stock have already said that they either lean toward voting against or will vote against Michael Dell’s attempt to take the company private.
Dell’s shares are up about 1% in premarket trading this morning at $14.30 in a 52-week range of $8.69 to $17.46.
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.