Carl Icahn Accuses Dell Of Threatening Investors And Forcing Transaction

Arpit Bajpeyi - Nov 06, 2018


Carl Icahn Accuses Dell Of Threatening Investors And Forcing Transaction

The complaint was submitted in Delaware Chancery Court on Wednesday Icahn give request to Dell to allow him to inspect books and records.on

Carl Icahn, an American billionaire, investor, and activist, sued Dell Technologies. He accused the company of not giving basic information about its proposal to return to buy shares of DVMT (Dynamic video memory technology) to return to public markets.

Kết quả hình ảnh cho carl icahn an dell

Carl Icahn

On Wednesday, Icahn submitted his complaint to Delaware Chancery court, in which he requests the court to order Dell let him investigate as well as copy its records and books.

The billionaire also expects the judge to generate a process in order to decide which document can go public.

As stated by a representative in Dell in his email, the company expresses strong disagreement with Icahn's accusation which they consider "unfounded", and they will issue a response on Thursday.

Dell stands its ground, claiming its transparency and the complete process which it followed. The process it mentioned involved an external special committee as DVMT shareholders' representative, supported by its own legal and financial consultants.

Kết quả hình ảnh cho carl icahn an dell

Carl Icahn (left) and Micheal Dell (right)

Carl Icahn continues by declaring that Dell threatens investors and force them to approve of the transaction at the shareholder meeting on December 11.

In the statement on Thursday, Icahn claimed that Dell would not provide information about the period from July 3 till now, while consultants have been asking for votes.

Also, he pointed out that his companies own approximately 9.2% of Dell's Class V shares.

About the DVMT deal, an Investor called it a "conflicted transaction" which allows better control over shareholders and the loss to DVMT shareholders.

Icahn requests speeding up the case so that it can be set by 3pm Monday.

Last month, Icahn disagreed with Dell's plan to return to public markets and believed that the transaction in plan undervalues the DVMT shares.

The billionaire will call for votes in objection to the deal and may offer a deal in replacement which gives investors an opportunity to cash out.

Comments

Sort by Newest | Popular

Read more

10,000 People Tune In Just To Watch A Young Woman Sleep For 5Hrs

Features- Mar 02, 2021

10,000 People Tune In Just To Watch A Young Woman Sleep For 5Hrs

A popular Taiwanese streamer made about $3,000 just by streaming herself sleeping in five hours with thousands of fans tuning in to watch.

Man Survived 14 Hours At Sea By Holding Onto 'A Piece Of Rubbish'

Features- Mar 01, 2021

Man Survived 14 Hours At Sea By Holding Onto 'A Piece Of Rubbish'

After falling off from his cargo ship, the man managed to stay afloat, swim to a "piece of rubbish" and held onto it until he was rescued.

Top 10 Drawing Apps For Chromebook With Offline Support

Features- Mar 01, 2021

Top 10 Drawing Apps For Chromebook With Offline Support

Here the top 10 best drawing apps for Chromebook with offline support that work flawlessly with a wide range of features and tools.

Japan Has New Minister Of Loneliness To Deal With Suicide Rates

Features- Mar 02, 2021

Japan Has New Minister Of Loneliness To Deal With Suicide Rates

The role of the new Minister of Loneliness is to reduce social isolation and loneliness among the residents of the country.

Bill Gates Prefers Android To iOS And Here Is His Reason

ICT News- Mar 02, 2021

Bill Gates Prefers Android To iOS And Here Is His Reason

Bill Gates said while he had an iPhone, he actually used an Android handset on a daily basis

UK Gambling Commission Orders Revision Of Slot Game Design

ICT News- Mar 01, 2021

UK Gambling Commission Orders Revision Of Slot Game Design

Let’s take a look at how the news unfolded and what exactly the terms of the revision are.