Dell Projects Icahn’s Offer Has $2.9 Billion Funding Gap
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Dell Inc. said the tender offer proposed by billionaire investor Carl Icahn as an alternative to a planned buyout by Chief Executive Officer Michael Dell has a $2.9 billion funding shortfall, making it less valuable.
After accounting for near-term debt obligations and minimum cash needs to run the company, Icahn’s $14-a-share offer would be worth about $8.15 per share, a special committee for Dell’s board said in a regulatory filing today.