Carl Icahn: If Dell board takes our offer, Michael Dell ‘will not be running the company’

“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.'”

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Michael Dell

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32 Comments

  1. “…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.

    1. 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.

  2. 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!

  3. 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.

      1. 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)

  4. 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.

    1. 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.

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