Icahn Scolds Dell For Buyout Tactics
What would be a "Five that dropped the ball" list without the latest from the saga of Dell's efforts to go private.
This week activist investor Carl Icahn, who is pushing an alternative to the go-private plan proposed by CEO Michael Dell, sent a letter to investors charging the company with publishing negative news about itself, even as Dell tries to solicit private buyout offers during what's called the "go shop" period.
"Is that how the supposed 'go-shop' was conducted? Can you imagine a real estate broker running advertisements warning of termite danger in a house each time a prospective buyer seems interested?" Icahn wrote.
In the letter Icahn also sought to dispel concerns that he and investment partner Southeastern Asset Management would be unable to fund their own offer to keep Dell a public company.