Carl Icahn Withdraws Lawsuit and Proxy Contest After Dell Raises DVMT Offer
November 15 2018 - 5:22PM
Dow Jones News
By Josh Beckerman
After Dell Technologies Inc. raised its offer to buy out an
affiliate known as DVMT, Carl Icahn said he is withdrawing a
lawsuit and terminating a proxy contest.
"Largely due to our opposition, today Dell enhanced the deal by
reducing the value being diverted from DVMT stockholders from over
$11 billion to $8 billion," Mr. Icahn said.
Dell said Thursday that its new offer for DVMT, which tracks the
value of Dell's stake in software maker VMware Inc., implies a
value of about $24 billion.
--Micah Maidenberg contributed to this article.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
November 15, 2018 17:07 ET (22:07 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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