Icahn May Have Sunk Own Bid To Beat $24B Dell Buyout

Law360, New York (July 10, 2013, 2:38 PM EDT) -- Carl Icahn and Southeastern Asset Management Inc. may actually have hurt their efforts to thwart the $24.4 billion buyout of Dell Inc., a Delaware judge said recently, swapping a proposal that could have been deemed superior by the company's board for one that can't.

Michael Dell and private equity firm Silver Lake Partners are trying to take Dell private for $24.4 billion. Icahn and Southeastern have proposed three alternatives since March, all of which envision borrowing some $5.2 billion to return value to shareholders while keeping...
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