Icahn: Dell Board Caved, Acted in Horrendous Way

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Sept. 9 (Bloomberg) -- Billionaire Carl Icahn discusses why he gave up his fight to control Dell and his opposition to founder Michael Dell’s $24.9 billion plan to take the company private. He speaks with Trish Regan on Bloomberg Television's "Street Smart." (Source: Bloomberg)

What would you like to see a judge decide?

I have not really thought that out.

We are in 10 deals right now.

From our point of view, while we lost and i am somewhat saddened by that, we came out making a fair amount of money, we did the work the board should have done.

The board acted in a horrendous way.

They caved in.

I congratulated michael.

I think he did it out of self- interest, which will make some sense.

Why he just gave the company -- why the board just gave the company away, did not even do a true auction -- it's beyond me.

I have said it publicly.

It took us to raise it $500 million, $600 million more.

If you buy a painting that's other bees -- at somebody's -- a t sotheby's, the painting is scratched, don't bid.

There is no corporate democracy.

As a country, we pride ourselves on democracy him and yet it is a dysfunctional corporate governance system -- on democracy, and yet it is a dysfunctional corporate governance system.

If it was changed, i'm hopeful that, with twitter, there may be enough chance to raise enough people to awareness about this am a if it would change, this country would be a lot more productive.

There would be a lot more jobs because executives would have to be accountable.

Ceo's would have to be accountable.

You could replace them.

There is none of that.

This is sort of a vicious cycle that goes on.

It sounds tremendously corny.

I came from queens.

Tough neighborhood.

We had very little money.

My mother was a schoolteacher.

And i done -- i have done so well because it is a great country and democracy is a great system when you have it.

While our political system lacks somewhat, it is nothing like this corporate system.

The reason i make so much money or one of the major reasons is because once you get into these companies and cleanup the mess, there is so much more value.

Look at this board.

They are horrendous.

Do you think that southeast will join you in seeking appraisal?

That is completely their business.

It does not matter to me whether they join or not.

If you go for appraisal, you go for appraisal.

It does not mean if more people join you it is plus or minus.

We have not made a final decision on appraisal.

But we have done a lot of work on it.

We think that it is worth a lot more.

But that could change.

We have time to change our minds on that.

As you said, 60 days after the deal closes.

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

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