Icahn, Southeastern Put Up Bid Against $24B Dell Buyout

Law360, New York (May 10, 2013, 3:29 PM EDT) -- In the latest chapter in an on-going battle for control of Dell Inc., the company's two largest shareholders — Carl Icahn and Southeastern Asset Management Inc. — made an offer Friday challenging an earlier $24.4 billion private equity-backed bid and threatening legal action.

The pair's affiliates, which together own about 13 percent of Dell, are offering shareholders $12 per share in cash or in additional shares valued at $1.65, according to a letter filed with the U.S. Securities and Exchange Commission. Icahn's and Southeastern's proposal technically...
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