Deals
Carl Icahn Blasts Dell’s Plan to Return to Public Markets
- Dell urged to offer more for shares tracking VMware stake
- Billionaire increases stake in DMVT tracking stock to 8.3%
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Activist investor Carl Icahn has come out against Dell Technologies Inc.’s plan to return to public markets, arguing that the proposed transaction undervalues shares that track its stake in VMware Inc.
The billionaire said he would solicit votes against the deal and potentially propose an alternative transaction allowing investors to cash out if they want. Icahn also disclosed Monday in a letter to shareholders that he had increased his stake in the tracking stock known as DVMT to 8.3 percent from 1.2 percent, making him its second-largest holder.