Icahn Signs Confidentiality Pact With Dell

He opposes Michael Dell's bid to take the company private

   

Icahn Signs Confidentiality Pact With Dell

Icahn 1063525001 e1291056531509 Icahn Signs Confidentiality Pact With DellCarl Icahn is getting a peek at Dell’s (NASDAQ:DELL) books.

The billionaire’s investment firm announced on Monday that it has concluded a confidentiality agreement with the struggling computer maker. The move comes after Icahn urged the company’s board to issue a special dividend instead of approving a buyout proposal from its founder, the Wall Street Journal noted.

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Under the terms of his proposal to the board, Dell would pay shareholders a $9 a share dividend. The size of Icahn’s stake in the computer maker is uncertain, but he is rumored to hold as much as 6% of its outstanding common shares.

In addition to Icahn, The Blackstone Group (NYSE:BX) has reportedly also entered into a confidentiality pact with Dell in order to examine the company’s financial records.

Last month, Michael Dell announced a $24.4 billion leveraged buyout bid for the company. His investment consortium includes a private equity firm and Microsoft (NASDAQ:MSFT).

Shares of Dell rose more than 1% in Monday midday trading.


Article printed from InvestorPlace Media, http://investorplace.com/2013/03/icahn-signs-confidentiality-pact-with-dell/.

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