Carl Icahn buys additional 4 million Dell shares

According to a financial filing with Securities and Exchange Commission (SEC), US, Carl Icahn has now become the second largest shareholder of the leading PC Company Dell after buying 4 million more shares of the company on Thursday.

Icahn now holds an 8.9 percent stake in Dell with near around 156.5 million shares, which earlier stood at 8.7 percent. With the latest purchase, Icahn is only behind Michael Dell who owns 14 percent stake in the company.

The company’s CEO announced his plans of turning the company into a private one through a $24.4 billion or $13.65 per share buyout deal with Silver Lake, his partner. Opposing the privatization plans, Icahn has put forward a counteroffer which will allow the shareholders to decide whether to sell out the company’s shares at $15 per share or just stay in. Icahn sued Dell and its board last week to foil the buyout attempt.

Icahn’s move didn’t bear any fruits and Dell’s Board of Director’s Special Committee accepted Michael Dell and Silver Lake’s proposal of $13.75 per share offer. Changes in the company’s voting policies were also proposed by Dell along with other agreements. Previously, if no vote was cast by a shareholder to determine whether a proposed deal should be made or not, it would be counted as a no vote. In the offer proposed by Michael Dell, he asked to only count the votes which have been casted.