Talking Numbers

Why I’m Backing Icahn’s Bid: Huge Dell Shareholder

With Dell versus Icahn, who’s got the better deal? Stephen Yatchman, Senior Vice President at Yacktman Asset Management, talks numbers on why he's backing Icahn.

It not quite Ackman/Icahn, but the battle for Dell is shaping up to be a pretty good one.

On one side, you have Michael Dell and private equity giant Silver Lake, bidding $24 billion for the troubled computer giant. On the other, you have legendary investor Carl Icahn and Southern Asset Management, who believe that bid is too low and are offering $14 for 1.1 billion shares and the hope of a better tomorrow.

So who’s got the better deal?

According to Institutional Shareholder Service, an influential proxy advisory firm, Team Dell does. Just yesterday, they threw their support behind the management led buyout.

But today, Icahn’s efforts received a big vote of support from one of Dell’s largest shareholders.

Yacktman Asset Management, an investment advisory firm with almost $25 billion under management and a 15 million share stake in Dell sided with Icahn’s offer. Among other things, they cited Dell’s track record running the company.

In an interview with Talking Numbers, Stephen Yatchman, Senior Vice President at Yacktman Asset Management, called into to make his case. And he offers some rather compelling reasons to side with Icahn.

Watch the video above and decide for yourself.


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