FILE - In this Monday, Nov. 13, 2000 photo, Michael Dell, Chairman and CEO of Dell, speaks during his keynote address at Comdex, in Las Vegas. It's easy to forget now, but Michael Dell was the Mark Zuckerberg of his time. Hailed as a young genius, he created the inexpensive, made-to-order personal computer in his dorm room and peddled it to the masses, but now the PC is being eclipsed by smartphones and tablet computers, and Dell is trying to save his company. (AP Photo/Mark J. Terrill, FIle)
News Summary: Icahn inks Dell confidentiality deal
Published: 04:31:16 PM, Mon 11 March 2013 UTC
THE NEWS: Billionaire investor Carl Icahn, who is fighting Dell Inc. founder Michael Dell's plan to take the struggling company private, has entered a confidentiality agreement that would give him access to the computer maker's financial records.
BUYOUT OFFER: Michael Dell, who is also Dell's CEO, plans a $24.4 billion buyout that would make the Round Rock, Texas, company a privately-owned business. The deal offers shareholders $13.65 for each Dell share.
THE OPPOSITION: Icahn says that price is too low. He wants the company to pay a special dividend of $9 per share if shareholders reject the offer and keep their stake in the company which would remain publicly traded.
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