Feeds

Icahn scratching head over BEEELLLIONS needed for Dell deal

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

Combat fraud and increase customer satisfaction

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. ®

3 Big data security analytics techniques

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.