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Icahn Hangs Tough on Dell

The Dell BoD said it'll consider Icahn’s request if he drops his proxy fight intentions and his threat of “years of litigation"

Carl Icahn, the billionaire activist investor, has refused to drop his threat of setting off a proxy fight for control of Dell’s board unless the company pays out a whopping big dividend as he originally proposed.

Dell’s board wants him to make a formal bid for the company.

The board’s special committee has already agreed to repay Silver Lake and Blackstone.

It said Friday it would consider Icahn’s request if he dropped his proxy fight intentions and his threat of “years of litigation.”

Icahn told the Wall Street Journal that “No matter how much they are willing to pay to reimburse me I’m not going to give up the right to put in a bid that I think will be compelling to shareholders, even if the board doesn’t like it.”

Icahn has said he’s willing to pay $15 a share for 58% of the company.

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Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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