Carl C. Icahn today announced that he
and his affiliates have entered into an agreement with Dell Inc. DELL that will
facilitate discussions among Dell shareholders free of the legal restrictions
under Delaware law.
Mr. Icahn noted: "Like other large Dell shareholders, I continue to believe
that the February 5 merger agreement to take Dell private undervalues Dell and
hurts shareholders. My affiliates and I expect to engage in meaningful
discussions with other Dell shareholders, discussions that we believe will
help to facilitate alternatives to the existing transaction with Michael
Dell. In addition, I want to make it very clear that I have retained the
absolute right to conduct a proxy fight at Dell. In fact, I have refused to
take a $25 million expense reimbursement from Dell as the price of giving up a
proxy fight. Dell shareholders are entitled to a free exchange of ideas as
they make this important decision and that includes the right of shareholders
to evaluate all alternatives. We look forward to speaking with Dell
shareholders in the days and weeks ahead."
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