Many big shareholders of the company including Southeastern Asset Management and T Rowe Price have all lined them up opposing the company’s deal and decision arguing that the deal undervalues the company. Last week, Carl Icahn, one of the company’s investor who has a huge stake in Dell, has also joined the team opposing the company’s privatization plans.
He wants the company to pay a special $9 dividend per share amounting to a total of additional $15.7 billion which will offer a better deal to the shareholders in the light of company’s plan of turning private. Carl Icahn threatened Dell that if the company does not accept his plans, then he will form his own alternate management team which would stand against Dell’s current Board.
According to reports, Dell has now entered into a private agreement with Carl and agreed to let him access the company’s financial books. With this step, Dell hopes that after inspecting the books, Carl might take back its legal threat or reduce the special dividend amount as demanded by him. Presently, Dell’s stock is trading around at $14.30 in the share market.