Absrtact: July 1 News, according to foreign media reports, the United States billionaire, activist investor Icahn (Carl Icahn) in Monday to meet with the Dell Board of Directors responsible for the retreat of the city's Special committee meeting, after Icahn announced that has received 5.2 billion U.S. dollars in loan commitments, support
July 1, according to foreign media reports, U.S. billionaire, activist investor Icahn (Carl Icahn) in Monday, and the Dell Board of Directors responsible for the retreat of the city's Special Committee to meet, after Icahn announced that has received 5.2 billion of dollars in loan commitments to support his bid for Dell and the latter a leveraged recapitalisation.
In an open letter to Dell shareholders, Icahn said 1.6 billion of the 5.2 billion-dollar loan commitments came from investment bank Jefferies & Co.
"With the loan promise, Dell's unwarranted speculation that we are unable to raise money for a bid can be capped," Icahn said in the letter. ”
The promise of a loan marks an important step towards Dell's alternative takeover by Icahn and Southeast Asset Management (Southeastern Asset Management). Icahn and the southeast Asset Management company proposed a takeover plan, requiring Dell shareholders to sell 1.1 billion shares at a price of 14 dollars.
By comparison, Dell founder Michael Dell and Silver Lake Capital (Silver) are planning to privatize Dell at $13.65 a share, at a total of $24.4 billion. Mr Icahn said the price greatly underestimated Dell's value. Dell's Special Committee has recommended to shareholders the privatization plan of Michael Dell.
To date, Icahn's takeover plan for Dell has not been accepted by the Dell Board's Special Committee. Icahn asked to sit down with the committee and discuss its takeover plan face-to-face.
A Dell spokeswoman did not immediately comment on the matter.
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