Carl Icahn Gives Up the Fight for Control of Dell

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Sept. 9 (Bloomberg) -- Bloomberg's Jeff McCracken reports that billionaire Carl Icahn has gave up his fight to gain control of Dell while still opposing the $24.9 billion plan from founder Michael Dell to take the company private. He speaks on Bloomberg Television's "Market Makers."

Carl icon is doing something he rarely does, he is giving up the -- he is giving up.

He still thinks that the founder, michael dell, his $25 billion bid to take the company private is just too low.

Our own jeff mccracken leads the am and a team here in bloomberg.

He is on the phone.

You are so live -- you're so busy reporting that you can't even join us live on set.

What is the latest?

He is going to take his $.13 in the dividend.

So bumps he has on below a great he is going to leave knowing he fought a good fight.

He doesn't typically want to throw in the towel.

Once the delaware tort -- the delaware court took a hands-off approach they gave him a green life -- a green light to do what he wanted to do, make life tough for carl icahn.

Was that the deciding moment, the ruling by the judge that holding this meeting on thursday to improve michael dell and silver lake's offer was in fact a legal?

That was a crucial moment.

And in the pub last month in august was crucial.

A lot of shareholders who have been opposed to the deal came out post announcement and said that they're going to sell their 2 million shares, i'm going to vote them -- they are going to vote their 2 million shares in support of michael dell.

That was the writing on the wall.

Can you help us understand, we see this statement released by south east asset management, seeming like they are on the same side of our carl icahn.

It is unclear what they're going to do with their shares.

I actually don't know because i have not had a chance to read their letter.

I would not be able to give that much insight.

To stephanie's point, south east asset management was backing carl icahn toss effort, even if you reject the terms and principles that michael dell and silver lake have put on the table at this point, aren't you cutting off your nose to spite your face?

Isn't it better to take the money and walked?

They may be a with the calculate that even if they vote against the deal it is still going to pass.

They can vote the way they are -- both the way their conscience and pocketbooks -- i think he has had a lot of notable symbols.

This is probably a victory even though there is some throwing of the towel, given that blackstone backed out of this months ago.

To be able to squeeze pennies and dimes more out of silver lake when they kept saying "best and final," that has to be seen as a pretty good victory.

Carl icahn still knows how to

This text has been automatically generated. It may not be 100% accurate.


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