Icahn files lawsuit over latest Dell buyout offer August 2, 2013
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The Associated Press
Activist investor Carl Icahn is suing Dell Inc. to prevent the PC maker from changing crucial details of a buyout offer from founder Michael Dell that Icahn stridently opposes.
Icahn's complaint seeks to prevent the company from setting a new record date for a special meeting at which shareholders will vote on an offer that Dell recently raised.
Dell and the Round Rock, Texas, company agreed months ago on a deal in which Michael Dell will buy the company for $24.4 billion, or $13.65 per share. Dell has since raised that offer to $13.75 per share, and a board committee has proposed changing the record date, which would allow a bigger pool of stock owners to cast ballots.
Dell shareholders are scheduled to vote today on the $13.65-per-share offer.