If dealing with Carl Ichan isn’t bad enough, there’s now the prospect of never ending litigation over Michael Dell’s buyout plan:
If the board refuses the proposal, Icahn intends to fight: Submit a new slate of directors who would be committed to implementing the special dividend. Icahn would then provide as much as $5.25 billion in bridge loans, should they be needed.
Icahn also threatens “years of litigation” in the event the go-private deal does go through.
Wow. Talk about taking no prisoners. Here’s what Dell’s special board who’s handling this deal had to say:
In response, the special committee of Dell’s board handling the go-private business said in the filing that it is running a “go-shop” process to seek out third parties who might make a better offer. Yesterday, Bloomberg News reported that Hewlett-Packard, Lenovo and private equity fund Blackstone are using that go-shop process to kick Dell’s tires and get a look at Dell’s books, but that an alternative bid is unlikely from them.
I told you to stay tuned to this. This is really going to be worth watching.
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Dell Might Be Facing “Years Of Litigation” With Ichan Over Buyout Plan
If dealing with Carl Ichan isn’t bad enough, there’s now the prospect of never ending litigation over Michael Dell’s buyout plan:
If the board refuses the proposal, Icahn intends to fight: Submit a new slate of directors who would be committed to implementing the special dividend. Icahn would then provide as much as $5.25 billion in bridge loans, should they be needed.
Icahn also threatens “years of litigation” in the event the go-private deal does go through.
Wow. Talk about taking no prisoners. Here’s what Dell’s special board who’s handling this deal had to say:
In response, the special committee of Dell’s board handling the go-private business said in the filing that it is running a “go-shop” process to seek out third parties who might make a better offer. Yesterday, Bloomberg News reported that Hewlett-Packard, Lenovo and private equity fund Blackstone are using that go-shop process to kick Dell’s tires and get a look at Dell’s books, but that an alternative bid is unlikely from them.
I told you to stay tuned to this. This is really going to be worth watching.
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Like this:
Related
This entry was posted on March 8, 2013 at 9:32 am and is filed under Commentary with tags Dell. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.