http://www.businessweek.com/news/2013-03-06/dell-rises-on-report-icahn-taking-stake-to-push-for-better-deal

Bloomberg News

Dell Rises on Report Icahn Taking Stake to Push for Better Deal

March 06, 2013

Dell Inc. (DELL:US) rose as much as 3.1 percent after CNBC reported that investor Carl Icahn has amassed a stake of as much as 6 percent in the computer maker and will probably oppose a proposed $24.4 billion leveraged buyout by Michael Dell and Silver Lake Management LLC.

Icahn will probably push for a special dividend, CNBC reported, citing people it didn’t name.

Dell advanced 2 percent to $14.35 at 2:44 p.m. in New York, and earlier touched $14.51 for the biggest intraday gain since Feb. 1. Through yesterday, the stock had declined 19 percent in the past 12 months, compared with a 12 percent gain in the Standard & Poor’s 500 Index.

Michael Dell and Silver Lake announced a deal on Feb. 5 to take Dell private with an offer of $13.65 a share in the largest leveraged buyout since the financial crisis.

To contact the reporter on this story: Reed Stevenson in San Francisco at rstevenson15@bloomberg.net

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net


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