Dell, Icahn Go Behind Closed Doors

For those of you not following along at home, Icahn reportedly has amassed a stake of about 6% in Dell, and wants to stop what he sees as the $24 billion giveaway of the company to founder Michael Dell and Silver Lake Partners. Icahn has said the company should pay a special dividend of $9 a share, which values Dell’s stock at around $23 a share, nearly $10 a share higher than the offer from Michael Dell and Silver Lake.

Icahn is not alone in his beef with Dell. Shareholders with nearly 15% of the company’s stock have already said that they either lean toward voting against or will vote against Michael Dell’s attempt to take the company private.

Dell’s shares are up about 1% in premarket trading this morning at $14.30 in a 52-week range of $8.69 to $17.46.