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Thursday, Mar 7
Carl Icahn promises "years of litigation" for Dell (DELL -0.1%) if it doesn't combine a vote on...
Carl Icahn promises "years of litigation" for Dell (DELL -0.1%) if it doesn't combine a vote on its LBO with one for an annual meeting in which Icahn will propose a friendly slate of directors, in a letter to the board. Icahn also suggests Dell would only have to raise $4.26/share ($5.25B) in new debt to finance his $9/share dividend. Larry Dignan argues "rivals will have a field day" with a debt-laden Dell should Icahn's proposal win out. But this assumes the proposal isn't just a negotiating tactic. Jefferies: "We think that Icahn would likely be satisfied with a raised bid to $15." (more)