As previously reported, Dell founder Michael Dell had a plan to take the company private in partnership with Silver Lake Partners.

It originally looked like the plan would gain shareholder approval, but the emergence of an alternative plan from well-known investor Carl Icahn threw a spanner in Mr Dell's works and the vote was postponed.

Last week a committee of Dell directors came to a new agreement with Michael Dell and Silver Lake Partners, with a shareholder vote on the matter scheduled for mid-September.

Icahn is reportedly taking legal action to have the company's annual shareholder meeting rescheduled to the same day as the vote on taking the company private in order to replace the board.

It was revealed last week that Mr Icahn had purchased another four million Dell shares, taking his stake to 8.9% of the company.

Only Dell owns more shares, holding somewhere between 14% and 16% (reports differ) of the company that bears his name.

As the proposed deal does not allow Dell to vote his shares, the plan needs strong support among other shareholders if it is to go ahead.

During 2008 and 2009 Mr Icahn got involved when Microsoft offered to acquire Yahoo!. He was thought to have lost more than US$100 million on his Yahoo! shareholding.