How Will Icahn Respond to Dell's Sweetened Bid?

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July 24 (Bloomberg) -- 13D Monitor President Ken Squire discusses Michael Dell's sweetening of his offer to buy Dell with Scarlet Fu on Bloomberg Television's "Market Makers." (Source: Bloomberg)

I think the $.10 is not for the shareholders.

It is for the special committee.

As christina said, they need to change the voting requirement.

He cannot get the vote of the majority of unaffiliated shares outstanding.

There is a large percentage of votes but some say 20%, not just abstaining but they're not showing up to vote.

. it is retailers, people that don't know -- on it anymore.

Some etf's don't vote.

Does the special committee have a reason not to go forward?

It does not look very good.

It does not look good to say these are the voting requirement and when you cannot get a -- to say you will change the requirements -- what is the prediction?

I think the vote will not happen next week.

I think it will be sometime in august.

The committee still has to think about whether they are agreeing to dell's proposal.

They might come back and say we will agree but we don't want $13 .75, we want $14. is the special committee working in the best interest of shareholders?

They are trying to get the offer bumped as best they can.

They has the ability decide and they obviously decided and by changing the roles --rules they might be looking towards the best interest of michael dell.

It has always been unusual that he is the founder trying to take the company private, the fact he is working with silverlake.

They have not been very visible on this deal.

This whole drama and the fact that use getting pushed on and on, what does it signal for michael dell?

He wants to buy the company but he does not want to pay for a landslide, so to speak.

He wants to get 51% of stuff he wants to pay just as little he has to to get the votes he needs.

That is what he is trying to do.

Carl icahn believes there is still value left in the pc business and shareholders should get to reap benefit.

This has been a distraction for the business, when you compare a chart of dell's shares versus hp shares.

Hp has outperformed dramatically.

I think this happens all the time.

It could be temporary downfalls, but in the long term, the business is the business.

This is been a huge distraction.

This is what carl icahn would argue.

There are stockholders but i have talked to that are enjoying this very much at hewlett- packard.

Look at the share price of dell, well below the buyout price.

Does that signal this is not going to happen?

There is uncertainty.

The belief is the stock is going to go way down if it does not happen.

I also think if this does not have become it does not mean that carl icahn feels -- there's still a lot that needs to happen.

We heard a best and final proposal for michael dell earlier.

Are we going to get another offer?

The special committee is going to look for that.

I think $.10 is not -- we can call it a bump.

Thank you so much.

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


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