Dell Renews Call for Details on Icahn Takeover Bid
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Dell Inc.’s board reiterated a call for billionaire Carl Icahn to provide more details about his proposal to take over the personal-computer maker, saying it needs more information to discuss his offer.
In a letter to Icahn today, the committee of Dell’s board charged with managing the buyout process by its founder said it can’t respond to the financier and won’t engage in talks unless the board decides his bid could result in a “superior proposal” over Chief Executive Officer Michael Dell and Silver Lake Management LLC’s $24.4 billion leveraged-buyout offer. The letter refers to a May 13 request by the special committee that asked Icahn and his partner Southeastern Asset Management Inc. for details about their proposed plan.