Feeds

Icahn scratching head over BEEELLLIONS needed for Dell deal

Never mind how rich I am, you need HOW MUCH?!

Build a business case: developing custom apps

Carl Icahn could be ready to walk away from the Dell rescue deal after reports suggested he's finding stumping up the cash for the refinancing plan a little more difficult than he'd hoped.

Sources told CNBC and the New York Post that Icahn is having second thoughts about the billions needed to finance the offer for Dell put forward by him and his venture capital partner, Southeastern Asset Management, to compete with the takeover bid by Mike Dell and buddy Silver Lake Partners.

The latest funding gap spotted by the firm's special committee suggests that another $3.9bn could be needed to recapitalise the firm, on top of the $5.2bn necessary for the $12-per-share dividend Icahn and SAM have offered Dell investors.

The partners don't have much time to make up their minds either, since shareholders are due to vote on the offer from Dell and Silver Lake on July 18.

Icahn and SAM are trying to stop an attempt by Mike Dell and Silver Lake to take the company private, in a deal they claim doesn't offer shareholders value for money.

They've offered instead to recapitalise the firm, handing more cash to investors in the process, because they believe that Dell's enterprise services business still has some potential - despite the firm's recent ropey numbers. ®

5 things you didn’t know about cloud backup

More from The Register

next story
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.