Saturday, April 20, 2013

Report: Icahn backing away from Dell bid

According to a published report, billionaire investor Carl Icahn is unlikely to follow through on a preliminary offer to acquire Dell, becoming the second suitor to revise views of the company after reports showed a staggering decline in PC sales.

The Wall Street Journal says Icahn will now likely wait to see if shareholders approve a February deal for the company to be taken private by founder Michael Dell and Silver Lake Partners for $24.4 billion.

The newspaper says that if the deal is rejected, Icahn may pursue a hostile takeover.

The Journal cites an unnamed person familiar with Icahn's thinking.

The news comes after the company said in a securities filing Friday that Blackstone Group LP is withdrawing from the bidding process.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/495d344a0d10421e9baa8ee77029cfbd/Article_2013-04-19-Dell%20Acquisition/id-ffb519e308d3404eb75663d51afa14c1

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