Dell Rises on Report Icahn Taking Stake to Push for Better Deal

Dell Inc. (DELL) rose as much as 3.1 percent after CNBC reported that investor Carl Icahn has amassed a stake of as much as 6 percent in the computer maker and will probably oppose a proposed $24.4 billion leveraged buyout by Michael Dell and Silver Lake Management LLC.

Icahn will probably push for a special dividend, CNBC reported, citing people it didn’t name.

Dell advanced 2 percent to $14.35 at 2:44 p.m. in New York, and earlier touched $14.51 for the biggest intraday gain since Feb. 1. Through yesterday, the stock had declined 19 percent in the past 12 months, compared with a 12 percent gain in the Standard & Poor’s 500 Index.

Michael Dell and Silver Lake announced a deal on Feb. 5 to take Dell private with an offer of $13.65 a share in the largest leveraged buyout since the financial crisis.

To contact the reporter on this story: Reed Stevenson in San Francisco at rstevenson15@bloomberg.net

To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.