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Icahn Gives Up Dell Fight While Saying Offer Too Low

Billionaire Carl Icahn gave up his fight to control Dell Inc., saying he continues to oppose founder Michael Dell’s $24.9 billion plan to take the company private because it undervalues the computer maker.

Dell and partner Silver Lake Management LLC sweetened their takeover proposal last month, offering a dividend of 13 cents a share on top of an already increased $13.75-a-share bid for the computer maker. The price is still 70 percent below the stock’s 10-year high of $42.38, Icahn said in a filing today.