Friday, November 28, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Syrian Electronic Army targets CNBC, Telegraph, Independent, PCWorld
GoPro Camera Drones In The Works: report
European Parliament Votes To Break Up Google
LG Electronics Streamlines Structure, Names New Presidents of Home and Mobile Segments
Microsoft Accidentally Anounced Acquisition Of Acompli
Microsoft Offers Massive Music Deals For The Holidays
ETRI Develops 10Gbps Internet Speeds Technology
New Asus Strix 7.1 Surround Gaming Headset Released
Active Discussions
Hi All!
cdrw trouble
CDR for car Sat Nav
DVD/DL for Optiarc 7191S at 8X
Copied dvd's say blank in computer only
Made video, won't play back easily
New Features In Firefox 33
updated tests for dvd and cd burners
 Home > News > General Computing > Carl Ic...
Last 7 Days News : SU MO TU WE TH FR SA All News

Sunday, July 07, 2013
Carl Icahn Says Dell Keeps Attacking Its Own Business


Carl C. Icahn, the investor who is trying to take over Dell, today attacked the special committee set up by Dell to evaluate options for the troubled computer giant sying that they are trying to scare out investors.

In a letter sent on Sunday to stockholders of Dell, Icahn said that Dell's board conducts "a campaign to demean the business prospects of their own company," and that they are trying to "frighten stockholders into selling Dell to Michael Dell and Silver Lake," at what he believes is "a bargain price."

The letter comes two days after Dell's special committee warned of "substantial downside risk" if shareholders reject a buyout plan led by founder Michael Dell. In a document filed with US regulators, the Dell panel said the personal computer business appears even bleaker than earlier forecasts, and that Dell still relies on the PC segment for two-thirds of its revenues.

Icann said the committee's filing "was a brazen attempt to scare ISS into approving the "uncontested" Dell offer." He added that Dell's issued pages included "confusing and obfuscating statements," but they "failed to change their projections in which they have Dell earning $3 billion of operating income for the year."

Carl Icahn and his investor allies and are pressing for an alternative plan that could keep Dell public, with an injection of cash. Icahn has obtained commitments for more than $5 billion in financing.

"I am proposing a total risk to my affiliates and myself of $5 billion (including our existing equity and proposed debt financing) and thereby provide an alternative to Michael Dell and Silver Lake acquiring the company at what I consider to be a bargain price. I have not risked $5 billion merely to get a bump from Michael Dell and Silver Lake. I have risked it to have a large investment in a company with great potential," Icann said.

"I urge stockholders to take this opportunity to stand up to the board that we believe presided over a number of mistakes made by Michael Dell in operating Dell over the last four years. Instead of holding him accountable for mistakes, they have chosen to award him and his new partners the opportunity to acquire our entire company at what I believe is a bargain price," Icann concluded.

Some news reports said Michael Dell was being pressured to raise his offer to be able to win backing from a majority of shareholders.

Icann's open letter to Dell's shareholders comes ahead of a July 18 shareholder vote on Michael Dell's $24.4 billion buyout plan, which would take Dell private.


Previous
Next
Amazon Slashes Prices On Kindle Fire HD        All News        First AMD FX 9590 'Centurion' Benchmarks Appear Online
MSN TV To Close Down on Sept. 30     General Computing News      Nikon To Release 450mm Immersion Scanner in 2017

Get RSS feed Easy Print E-Mail this Message

Related News
Dell Introduces Venue 8 3000, Venue 8 7000, and Venue 11 7000 Series Tablets, New Converged System
Alienware To Release New New Area 51 Gaming Desktop, Graphics Amp
Dell Creates Virtual Smartphone
IFA: Dell Updates Its PC Portfolio
Computex: Dell Announces New Inspiron 2-in-1,Venue Tablets and All-in-One PCs
Dell to Use Recycled Plastics in PCs
Dell Unveils New Desktop Virtualization Solutions
New Dell Inspiron 5000 Series Laptops and All-in-One Desktops Coming This Week
Dell Introduces Latitude Rugged Extreme Lineup
Dell Offers Per-App VPN Access Controls For BYOD Mobile Workers
Microsoft and Dell Sign Patent Licensing Deal
Dell Acquires StatSoft to ADvance Its Big Data Solution

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .