Icahn sues to stop Dell from changing record date for LBO vote

|About: Dell Inc. (DELL)|By:, SA News Editor

Carl Icahn has filed suit against Dell (DELL +1.7%) and its board to prevent a change in the shareholder record date (currently June 3) upon which Friday's LBO vote will be based. A date change could lead to higher turnout, which in turn could help the deal pass.

Dell's board stated yesterday it's open to changing the record date, but rejected Michael Dell/Silver Lake's request not to recognized abstained votes as "no" votes.

Icahn is also demanding Michael Dell and affiliates not be allowed to vote shares bought after Feb. 5.

Dell is rallying today, but is still 6% below the revised LBO offer price of $13.75/share.