News Summary: Icahn still fighting Dell deal

News Summary: Icahn to ask judge to review price in proposed Dell buyout , wants higher price

Associated Press
News Summary: Icahn still fighting Dell deal
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This combination of Associated Press file photos shows, left, Dell founder Michael Dell, left, on Jan. 26, 2011, and Carl Icahn, on Oct. 7, 2007. Billionaire investor Carl Icahn says he will ask a Delaware judge to assess whether a proposed $24.4 billion acquisition of Dell represents a fair price for the struggling personal computer. It is Icahn's latest attempt to wrangle a higher offer from buyout group that includes company CEO Michael Dell. (AP Photos/Dell-Virginia Mayo, Icahn-Mark Lennihan)

PUSHING THE FIGHT: Billionaire investor Carl Icahn will ask a judge to assess the fairness of a proposed $24.4 billion acquisition of struggling personal computer maker Dell in his latest attempt to wrangle a higher price.

LAST GASP?: The legal move outlined Wednesday may end up being one of the last moves in Icahn's crusade to prove that CEO Michael Dell and other investors led by Silver Lake Partners are trying to snap up the world's third largest PC maker at a steep discount to its long-term value.

SHAREHOLDER VOTE: Dell's shareholders will get their chance to accept or rebuff the offer at a July 18 meeting. The bid must be backed by slightly more than 42 percent of Dell's outstanding stock because Michael Dell's nearly 16 percent stake in the company is being excluded from the count.

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