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Icahn Says He’ll Come Up With Higher Dell Bid By Tomorrow

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Billionaire Investor Carl Icahn
Billionaire Investor Carl Icahn, who holds an 8.7 percent stake in Dell Inc., has been agitating for months to try to force Dell Chairman Michael Dell and buyout partner Silver Lake Management LLC to sweeten their proposal. Photographer: Scott Eells/Bloomberg

July 11 (Bloomberg) -- Billionaire investor Carl Icahn, in a bid to force Michael Dell to sweeten his $24.4 billion buyout offer for Dell Inc., said he’ll come up with a higher bid for the PC maker by tomorrow morning.

“I do think Dell is worth a great deal more than the $13.65” Michael Dell is offering, Icahn said today on Bloomberg Television’s “Street Smart” with Trish Regan.

Icahn, who holds an 8.7 percent stake in Dell, has been agitating for months to try to force Michael Dell and buyout partner Silver Lake Management LLC to sweeten their proposal. His latest plan would offer Dell shareholders $14 a share or the ability to retain equity in a publicly traded portion of the company -- rather than the buyout group’s deal that takes all the shares off the table for outside investors.

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To contact the reporter on this story: Beth Jinks in New York at bjinks1@bloomberg.net

To contact the editor responsible for this story: Elizabeth Wollman at ewollman@bloomberg.net

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