Tag Archives: CarlIcahn

Battle for Dell continues as shareholders Icahn, Southeastern partner on an offer

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Michael Dell's deal with Microsoft to buy back the computer company bearing his name hasn't gone through yet, and tonight two of its largest shareholders joined forces on another option. Carl Icahn and Southeastern Asset Management have both opposed the $24.4 billion / $13.65 per share buyout proposal from the start and have an alternative proposal: a $12 per share dividend, funded by Dell's $9 billion in cash and $5.2 billion in new debt. If that's not accepted, the two also claim to be ready to put up a slate of 12 directors ahead of Dell's annual shareholder meeting, or take their challenge to the courts. Even with the reported withdrawal of a counter offer from Blackstone Group, things remain complicated -- we'll wait and see if any of these threats go through, or if they successfully wrangle a better buyout offer from Dell, Microsoft & Co.

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Source: Wall Street Journal

Potential Dell bidding war afoot as Blackstone Group and Carl Icahn reportedly making offers

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Potential Dell bidding war afoot as Blackstone Group and Carl Ichan reportedly making offers

Thought that Dell buy out was a done deal? Well, the Blackstone Group and investor Carl Icahn clearly don't think so, with the Wall Street Journal reporting that both have contacted the committee of Dell's board just before Friday's shutoff deadline. The would-be bidders are reported to be working on their actual offer amounts, and in the process buying them four more days thinking time. Reuters reports that Blackstone's tentative offer is already in, according to sources, but at this time the company is yet to comment. Despite a recent slump in profits, Michael Dell surprised many when he announced his intention to buy back the eponymous firm in a deal with Microsoft for $24.4 billion. So, if the founder thought he had the keys to the old estate back, he might just have to wait a little longer.

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Source: The Wall Street Journal, Reuters

Carl Icahn unloads his LightSquared debt, creditor talks trudge on

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exit sign

Carl Icahn is no stranger in this field -- he's been caught tussling with Motorola and bidding Yahoo's board adieu in recent years -- and most recently, he's managed to get caught up in one of the bigger wireless whirlwinds this planet has ever seen. Just months after Icahn swooped in to buy some $250 million in company debt at around 40 cents on the dollar, he has managed to offload that very chunk for 60 cents on the dollar. Not surprisingly, his cash coffers are growing in turn, despite LightSquared's position as a whole looking only marginally less bleak. According to a Reuters report, creditors have agreed to another week-long extension (until May 14th) in order to talk things over with head honcho Philip Falcone. As of now, the startup has around $1.6 billion in debt, and while talks may delay the pain, we're still not getting the impression that the FCC (or anyone else, really) is warming to its propositions. Then again, maybe Facebook can just buy it in an act of charity prior to its IPO.

Carl Icahn unloads his LightSquared debt, creditor talks trudge on originally appeared on Engadget on Wed, 09 May 2012 03:11:00 EDT. Please see our terms for use of feeds.

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