Seeking Alpha

Icahn loses bid to expedite Dell challenge

Judge Leo Strine has rejected Carl Icahn's bid (previous) to fast-track his legal challenge to Michael Dell/Silver Lake's Dell (DELL +0.8%) LBO offer.

The ruling paves the way for a Sep. 12 vote on the offer to take place.

Strine asserts there's no evidence to back up Icahn's claim the vote is rigged against his competing offer, or that shareholders are being coerced. "I think the special committee would dance in the streets if the Icahn group would make a topping bid that was firmly financed and would buy out everybody's shares at a greater price."

Dell shares have ticked higher to $13.81 following the ruling.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs