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Dell Latest News: Icahn Sweetens Bid for Dell by Adding Warrants

Wochit 1:08 mins

Billionaire investor Carl Icahn and Southeastern Asset Management Incorporated sweetened their bid for Dell Incorporated by adding warrants they say would increase the value of the offer to a range of $15.50 per share. At least three shareholders who collectively hold nearly 3 percent of Dell Inc shares plan to vote against Michael Dell's $24.4 billion buyout offer, raising questions about proxy adviser Institutional Shareholder Services' sway with the PC maker's shareholders. In an email to Reuters, an ISS spokesperson defended supporting the deal. "ISS' role is to analyze the deal and make a recommendation that we see as being in the best interest of shareholders. That's what we've done," the email said. "At the end of the day however, as with any proxy vote, shareholders will make their own decisions based on their own circumstances," she said. Michael Dell's offer to acquire outstanding shares in the company he founded and bring it private has been endorsed by two more advisory firms.Glass Lewis and Egan-Jones, firms that advise shareholders in matters of public companies, announced that after reviewing Michael Dell's $13.65-per-share deal, it's in the best interests for the company's stockholders to vote for it.

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