I suspect that Michael Dell will be sleeping easier tonight as News.com is reporting that his arch-nemesis Carl Ichan has given up trying to take control of Dell:
In an open letter to Dell stockholders published by the Securities and Exchange Commission on Monday, Icahn said he determined that it would be “almost impossible” to win against the offer by Michael Dell and Silver Lake to purchase the company and take it private.
“We have therefore come to the conclusion that we will not pursue additional efforts to defeat the Michael Dell/Silver Lake proposal, although we still oppose it and will move to seek appraisal rights,” he said.
The vote to take Dell private is scheduled for Thursday and it looks like smooth sailing for Michael Dell and Silver Lake. Though Ichan isn’t going quietly. Here’s a snippet from the open letter:
The Dell board, like so many boards in this country, reminds me of Clark Gable’s last words in “Gone with the Wind,” they simply “don’t give a damn.” If you are incensed by the actions of the Dell Board as much as I am, I hope you will choose to follow me on Twitter where from time to time I give my investment insights. I also intend to point out what I consider to be unconscionable actions by boards and discuss what remedies shareholders may take to change the situation.
Ouch. Talk about a sore loser.
Related
This entry was posted on September 9, 2013 at 11:21 am and is filed under Commentary with tags Carl Icahn, 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.
Ichan Gives Up Chase For Dell
I suspect that Michael Dell will be sleeping easier tonight as News.com is reporting that his arch-nemesis Carl Ichan has given up trying to take control of Dell:
In an open letter to Dell stockholders published by the Securities and Exchange Commission on Monday, Icahn said he determined that it would be “almost impossible” to win against the offer by Michael Dell and Silver Lake to purchase the company and take it private.
“We have therefore come to the conclusion that we will not pursue additional efforts to defeat the Michael Dell/Silver Lake proposal, although we still oppose it and will move to seek appraisal rights,” he said.
The vote to take Dell private is scheduled for Thursday and it looks like smooth sailing for Michael Dell and Silver Lake. Though Ichan isn’t going quietly. Here’s a snippet from the open letter:
The Dell board, like so many boards in this country, reminds me of Clark Gable’s last words in “Gone with the Wind,” they simply “don’t give a damn.” If you are incensed by the actions of the Dell Board as much as I am, I hope you will choose to follow me on Twitter where from time to time I give my investment insights. I also intend to point out what I consider to be unconscionable actions by boards and discuss what remedies shareholders may take to change the situation.
Ouch. Talk about a sore loser.
Share this:
Like this:
Related
This entry was posted on September 9, 2013 at 11:21 am and is filed under Commentary with tags Carl Icahn, 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.