Dell Tells Icahn Hands Tied By Silver Lake Merger Deal

Law360, New York (May 20, 2013, 1:42 PM EDT) -- Dell Inc. on Monday told Carl Icahn and Southeastern Asset Management Inc. that it couldn't provide the buyout suitors more details unless the board deemed their proposal “superior” to Michael Dell and Silver Lake Partners' offer, setting up an information-sharing standoff.

Icahn and Southeastern, which have made a preliminary proposal for what is essentially a $21 billion leveraged recapitalization, had asked for access to Dell's internal records, as well as a data room to allow a potential lender to conduct due diligence.

The special committee responded...
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