Deal or no deal, Michael Dell says he’ll stick around …


Michael Dell, who threw his full support behind a controversial $24.4 billion bid to take his PC-and-server company private, now says he’ll stick around even if that deal, also backed by Silver Lake Partners, fails. But, he will not support an asset sale or a leveraged recapitalization of the company as financier Carl Icahn, who opposes this buyout, has proposed, he told the Wall Street Journal. Icahn says the take-private move undervalues the company.

Under a recapitalization, the company would probably borrow money and make a cash payment to investors.

According to the Journal, Dell wrote:

“I will not support the kind of recapitalization and sale of assets some shareholders are suggesting … Given where we are today, I believe the challenges we would face as a public company, including a potential proxy fight, would be significant. But I am ready to fight and I am committed to doing…

View original post 135 more words


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s