“Investor Carl Icahn and Southeastern Asset Management have proposed a new offer to Dell shareholders, who are considering a proposal by founder Michael Dell’s group of investors, including Microsoft, to purchase existing shares at $13.65 each in order to take the company private,” Electronista reports. “In a letter to Dell’s board of directors, Icahn and Southeastern are counter-proposing a deal to give all Dell shareholders the option to retain shares in the company, plus take an additional $12 a share in cash or stock.”
“Icahn, Southeastern and several other large Dell shareholders have said the company is selling out too cheaply to Mr. Dell and Silver Lake,” Electronista reports. “The letter claims Icahn and Southeastern combined retain 13 percent of Dell stock. Michael Dell and his investors control 16 percent.”
Electronista reports, “On CNBC’s Fast Money Halftime Report show, Icahn revealed that on Monday he will nominate a slate of 12 new directors and, if successful, he’ll see to it that Michael Dell doesn’t remain in his position as chief executive. ‘He will not be running the company,’ Icahn said. He did add that it was ‘not that I have anything against [Michael] Dell. I’m sure he’s a very nice guy, but it’s a new world out there.'”
Read more in the full article here.
MacDailyNews Take: SIDAGTMBTTS.
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Poor Delly.
Ya … shown the door. Fired. 🙁
“Related articles:” OUCH!
Although today, AAPL is only worth 18.1 times DELL. Oh well.
Data: http://www.wolframalpha.com/input/?i=aapl+vs+dell+market+cap
“…not that I have anything against [Michael] Dell. I’m sure he’s a very nice guy,”
On the other hand, I’m pretty sure Icahn is not a very nice guy. I think he makes the Great White look like a fluffy kitten.
Icahn is a shrewd businessman that made his millions (billions?) identifying poorly managed firms, that could prosper with new management.
His loyalties are to the business and its prosperity (to the benefit of customers, employees, vendors and shareholders).
Icahn wants Dell and his management team out for very good reason. Under his leadership, DELL has declined to near bankruptcy over the last 10 years, making horrible acquisition and product decisions.
The nicest thing that could happen to DELL, the Company, is for Icahn to prevail.
Yep and the other real question is how do you go broke selling computers to the government?
The reason why Mr Dell would not be running the company sums everything….. “it’s a new world out there.”
Inability to adapt and understand that was or is the problem for many….. Look at some CEOs of the [recent] past, Research in Motion, HP, etc. regarding PC and mobil industries.
Microsoft?? Well, Microsoft is Microsoft…. for as long as it takes!
Dude, you’re getting Delled!
Or un-Delled.
Mickey’s probably trying to find that Dell Dude actor to score some!…
You have to be exceptional during your sabbatical to execute a turnaround when you return…like Steve Jobs did.
Michael, why don’t you take your own advice you gave Steve Jobs?
I know, I know, I am piling on…like Michael did.
That related articles list is the funniest thing ever. I love going back through some of those posts.
I love DELL but in market there is no Love just work and be smart
You love the company DELL? The man Michael Dell? Or computers made by DELL?
And why?
Before the rise of Intel MacBook Pros, I was forced to run workstation class laptops for 3D CAD and FEA mold flow analysis (which easily a half to hour long 100% CPU load run).
Dells workstation grade laptops did the job, but they were more expensive than Mac Book Pros (today M4700 loaded >$4000)
My Dell laptop owning brother calls them ‘Smell’.
I told him to get a Mac! He’s a lawyer! Lawyers love Macs! But noooo…
Why the hell include Microsoft as part of the prospective list of investors? What does Microsoft bring to the table except boat loads of money? Microsoft has little to no appreciation of design or technological expertise.
Because, IIRC, Dell is still the #1 (#2?) maker of Window boxes. So MS wants to be sure they keep making Window boxes, even if they don’t make any money.
Karma’s a bitch Mikey!
…the vultures are circling.
I am did so much for TWA.
> proposing a deal to give all Dell shareholders the option to retain shares in the company, plus take an additional $12 a share in cash or stock.
That’s a very good deal, considering DELL is currently worth about $13 a share. Instead of SIDAGTMBTTS, it’s more like “give the money back to the shareholders” (but keep it trudging along for a new more years).
Poor Mikey. He’s about to take it in he but.
Thanks for your valuable addition to the discussion.
P.S. How old are you?
P.P.S. Learn how to type.
Dell’s build-to-order model was the best. Due to its heavy dependency on Microsoft, lack of vision, fail to anticipate the growing popularity of mobile segment, fail to counter Apple’s superior offering, and etc, Dell is fading into history in such a sad way. It’s sad to see Dell ends up like “that”.
I hope all of Dell goes under and becomes no more in my lifetime!
Depending on Microsoft and not creating a new operating system behind the scenes early on is what’s hurting all of the PC makers that aren’t named Apple.
Dell, HP and Acer, etc. should start from scratch. Build a new OS, or buy one and make it their own… they can’t depend on Microsoft making important decisions. IBM faltered with OS/2 when Microsoft was in it’s heyday. But now Microsoft Windows is an ugly piece of confusing hectic shit, so it’s time to bail if they’ve got the chance.. If all the hardware PC vendors (except Apple, of course) worked on one operating system together, their dependency of Microsoft would no longer be a spike in their neck.
Another thing they oughta standardize on is installing and promoting Openoffice (or some other office application) on all their computer systems to further remove their dependency on Microsoft.
Oops… Look into the kaleidoscope!… Ballmer’s doing fine… forget!…… forget!….
I have a strange feeling despite his Claims, it won’t be long before Gates is back on as CEO
So Icahn is offer for Dell stock holders to keep their shares and also get $12 per share. The stock is at 13. So essentially he will give them almost double the offer that Dell’s group is offering. That’s about 20 billion dollars.
Bub-bye Mikey.
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