Dell - once the second-largest computer maker, is now on the initiative of the founder trying to find ways for further development as a private company. Michael Dell offers shareholders to redeem their shares for a total of $ 24.4 billion, at $ 13.65 per share. The initiative is opposed by billionaire Carl Icahn, who, together with allies owns 13% stake in the company, it intends to buy back a portion of Dell shares at a higher price ($ 14).
Michael Dell in a new letter to shareholders tried to convey to them the idea that you need to buy the entire company. If part of the Dell shares remain on the market as it offers Icahn, it can lead to a drop in the share price, Dell will cause deterioration of the image in the eyes of consumers and will cause problems with the motivation of employees.
If the shareholders do not vote for Dell proposal , he promises to stay with the company, but will resist attempts to partial redemption offered by some third party. The same person have already agreed with Jefferies & Co about obtaining loans totaling $ 5.2 billion for the implementation of their plans. Icahn and his allies need to collect partial redemption of shares of funds. $ 2.2 billion in debt will be issued for six years and another $ 3 billion - for three years. Structure Aikan himself ready to allocate $ 3.6 billion to the needs buyback Dell. About 72% of the company after the implementation of the plan will remain in private hands, and the rest will continue to apply in the market. Sam Icahn now owns about 9% of Dell, he was prepared, if necessary, to vote for the re-election of the Board of Directors and the CEO.