Dell asks for information on the source of the acquisition

NetEase Science and technology news May 13, according to Reuters reported that the Dell Board of Trustees of the Special Committee in Monday requested Icahn (Carl Icahn) to provide more information on its offer. Last week Icahn and Southeast Asset Management (Southeastern Asset Management Inc.) challenged Michael Dell's 24.4 billion dollar privatisation deal with a $21 billion cash offer. In a letter to Icahn, Dell's Special committee said it was unclear whether he was "submitting a genuine offer that the board could assess" or whether it intended to submit the offer as an alternative after the agreement was not approved by the Silver Lake Fund and Michael Dell. Icahn and south-east assets proposed by the agreement, Dell shareholders can retain shares, and received 12 U.S. dollars/shares of cash or a value of 12 U.S. dollars in Dell shares, to challenge Michael Dell's 13.65 U.S. dollars/shares of the privatization bid. The Dell Special Committee said the company needed to provide more information, including where to finance debt, the 5.2 billion-dollar bridging loan (bridge Loan) that might be required to complete the transaction. Icahn said that Jefferies company promised to provide 1.6 billion U.S. dollars, he is willing to pay more than 2 billion dollars (if necessary). But he did not mention the rest of the money. In addition to funding sources, the Dell Special Committee has asked Icahn to submit a formal acquisition agreement (he has only submitted a letter of intent so far), as well as the list of senior executives he wants to appoint and other existing shareholder commitments. The following is a letter from the Dell Special Committee to Icahn: "We do not know if you intend to plan your transaction as a real takeover offer that the board can evaluate and possibly sign or accept, or as an alternative proposal that the Board may consider after the Silver Lake and Dell agreements have not been approved." For the Special Committee of the Dell Board of Trustees to evaluate your proposed transaction and negotiate the terms of the agreement that may be brought to it, we need some clarification and more information to make a better offer under the merger agreement. Please describe your consideration of the arrangements for operating capital or other liquidity after the completion of the transaction. Your proposed offer does not seem to take into account additional financing, and the liquidity requirements that may result in the possible use of corporate cash and the possibility of selling accounts receivable appear to require additional financing, which could have an impact on future cash flows. In addition to operating capital, the company may have other significant cash requirements, such as bonds maturing within 12 months of completion of the transaction, about 1.7 billion dollars. "(Mushulin)