Icahn's Financiers Get Breakup Fee Of Their Own

Law360, New York (July 2, 2013, 1:48 PM EDT) -- The lenders cobbled together by Carl Icahn to finance his alternative plan for Dell Inc. will get a pseudo-breakup fee for their troubles if the billionaire's leveraged share buyback doesn't happen, according to a Tuesday regulatory filing.

If a $24 billion buyout by founder Michael Dell and private equity firm Silver Lake Partners is sweetened or terminated in favor of a superior offer, the lenders — a motley crew of pension funds and private equity funds fronted by investment bank Jefferies LLC — will get to...
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