Dell Responds to Ichan, Southeastern Offer

Dell Inc. responded Friday to a proposed alternative – submitted by Carl Icahn and Southeastern Asset Management – to a $24.4 billion buyout deal led by founder Michael Dell. In a letter to Dell’s board on Thursday night, Icahn and Southeastern proposed that current owners keep their equity position. Additionally, they would have the option of receiving a distribution of $12 a share in cash or $12 a share in stock valued at $1.65 a share, Reuters reported. Dell said in a statement Friday that it was “carefully reviewing the potential transaction to assess the potential risks and rewards to the public shareholders."

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