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Icahn Files Suit Over Latest Dell Buyout Offer

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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 This material may not be published, broadcast, rewritten or redistributed.)

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