Carl Icahn and Southeastern Asset Management are proposing to buyback 1.1 billion shares at $14 each. They sweetened the deal earlier this week to add warrants, allowing existing shareholders to buy one additional share of Dell at $20 each for every existing four shares they owned within seven years of his buyout. Icahn said that ups the value of his offer up to $15 to $18 a share.
If Icahn and Southeastern Asset Management were successful, together they would have a 72 percent stake in Dell. Icahn has promised to shake things up at Dell, by ousting Michael Dell as CEO and adding 11 new members that work for Icahn and Southeastern Asset Management.