ROUND ROCK (AP) – Activist investor Carl Icahn is suing Dell to prevent the PC maker from changing crucial details of a buyout offer from founder Michael Dell that Icahn stridently opposes.
Icahn’s complaint seeks to prevent the company from setting a new record date for a special meeting at which shareholders will vote on an offer that Dell recently raised.
Dell and the Round Rock, Texas, company agreed months ago on a deal in which Michael Dell will buy the company for $24.4 billion, or $13.65 per share. Dell has since raised that offer to $13.75 per share, and a board committee has proposed changing the record date, which would allow a bigger pool of stock owners to cast ballots.
Dell shareholders are scheduled to vote today on the $13.65-per-share offer.
(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
- DMV Changing Vehicle Registration Fees In 2017
- Giant Fireball After 2 Freight Trains Collide In Texas
- Justices To Hear Dispute Over Deaf Driver Education In Texas
- FDA Approves First Pill To Treat All Forms Of Hepatitis C
- Senate Democrats Block GOP’s Zika Funding Bill