Yacktman Asset Management, the money manager founded by Donald Yacktman, said it’s supporting a proposal by Carl Icahn that would scuttle the planned leveraged buyout of Dell Inc. (DELL:US) by its founder, Michael Dell.
The proposal by Icahn gives shareholders the option to sell or stay invested, and a change in the board of directors may benefit shareholder value, Yacktman said today in an e-mailed statement. The offer by Michael Dell is “inadequate,” the company wrote. Yacktman Asset Management, based in Austin, Texas, held 0.85 percent of Dell as of March 31, according to data compiled by Bloomberg.
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