The special committee reviewing the proposal by investor Carl Icahn and Southeastern Asset Management for a leveraged recapitalization of Dell said the proposal fails to account for debt that the company must repay by April 2014 and falls $3.9 billion short in financing. Dell's board and its advisers are recommending that shareholders accept the $24.4 billion buyout proposed by CEO Michael Dell and Silver Lake Partners that would take the company private.

Related Summaries