On August 4, 2013, Carl C. Icahn and his affiliates filed a brief in support of their motion to expedite proceedings in connection with their lawsuit filed against Dell Inc. (NASDAQ:DELL) and the members of its Board of Directors in the Court of Chancery of the State of Delaware. Among other things, the brief explains how we believe the Dell Board has breached its fiduciary duties by taking the actions it disclosed late last week. In addition to requesting expedited proceedings, the brief also explains why Dell should hold its Special Meeting and its Annual Meeting on the same date and time.
Icahn sues Dell’s board over Big Mike’s buyout bid (Register)
Activist investor Carl Icahn and his affiliates have filed a legal complaint against Dell Inc. (NASDAQ:DELL) and its board members in his latest attempt to thwart Big Mike’s efforts to regain control of the PC behemoth. Icahn filed in Delaware’s Court of Chancery on a number of counts. One of these is a request for the court to to stop Michael Dell and his partners from counting any votes from shares that were bought after they announced their bid to take the firm private. It’s likely that Icahn and his partners, Southeastern Asset Management, reckon that anyone who bought shares in Dell Inc. (NASDAQ:DELL) after the buyout offer was on the table did so because they wanted to vote for it.
Dell buyout deal official (CNBC)
Will Dell Inc. (NASDAQ:DELL) Move Into Private Hands By This Year End? (BasicsMedia)
The founder of Dell Inc. (NASDAQ:DELL) appears to be stern to take his brainchild back to his private hold. It appears that Michael Dell and his private equity partner would not stop until they get hold of the leading global information technology company and with every day the bid for the shares seems to be moving upward. On the other hand, the billionaire activist and one of the largest shareholders of the company, Carl Icahn is continuing his fight to keep the computer maker with the common shareholders. The battle over the position of Dell is far from over, with continuing struggles between the two ends.
Icahn Twitter Feed Continues to Turn Heads; Activist Sees the Dell War ‘Far from Over’ (DELL) (Benzinga)
Carl Icahn’s Twitter feed continues to serve — for better or for worse — as a nice way for the famed hedge fund manager to tease his next moves. Icahn, commenting on the outcome of the Dell Inc. (NASDAQ:DELL) talks (which have gone on ad nauseam) tweeted the following Friday morning: “We are pleased to have won another battle in the Dell war but the war itself is far from over. More to follow.” Icahn could be referring to several things. He might be hinting at continued efforts to find Dell holders the best possible price, he might be leaning toward saying “enough is enough” on a possible deal and instead campaign for change from a less-activist viewpoint, or he could even be indicating at what he feels will be the eventual integration of his slate of managers into the Dell Inc. (NASDAQ:DELL) corporate culture.
