Activist investor Carl Icahn has given up his fierce struggle to prevent Michael Dell from buying his namesake company and taking it private. In a letter to shareholders, filed with the Securities and Exchange Commission on Monday morning, Icahn said Dell would be paying a price approximately 70 percent below its 10-year high of $42.38, and accepting the bid would undermine “Dell’s great potential.” However, due to the way events unfolded, Icahn said, he was not able to keep up the fight.
Loading ...
Icahn Concedes Defeat to Dell 'Dictators'
Posted by: Erika Morphy September 9, 2013 03:47 PMActivist investor Carl Icahn has given up his fierce struggle to prevent Michael Dell from buying his namesake company and taking it private. In a letter to shareholders, filed with the Securities and Exchange Commission on Monday morning, Icahn said Dell would be paying a price approximately 70 percent below its 10-year high of $42.38, and accepting the bid would undermine “Dell’s great potential.” However, due to the way events unfolded, Icahn said, he was not able to keep up the fight.