Icahn proposes Dell share buyback to increase value for shareholders

06/25/2013 | Las Vegas Sun

Investor Carl Icahn is making a new move in his strategy to acquire Dell, this time proposing a $16 billion buyback for 1.1 billion shares. A Dell board committee responded that it doesn't see sufficient funding for the scenario, which "would likely force shareholders to continue to own shares in the highly leveraged company that would result." Icahn said the proposal would enhance shareholder value in the company. Meanwhile, his main competitor, Michael Dell and Silver Lake Partners, remains committed to spending $24.4 billion to take the company private, a proposal that will be voted on by the company's board July 18.

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