Icahn Shakes Up $24B Dell Deal, Promises Protracted Battle

Law360, New York (March 7, 2013, 2:50 PM EST) -- Billionaire investor Carl Icahn has joined the fray over Dell Inc.’s proposed $24.4 billion buyout, revealing Thursday a “substantial” stake in the company and promising “years of litigation” if Dell’s board doesn’t yield to his demands for alternatives to the deal.

In a letter released publicly by Dell, Icahn says he wants the company to pay a $9 per share dividend and to include a vote on the leveraged buyout at its annual meeting. He has offered to lend “on commercially reasonable terms” up to $5.25...
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