Latest Business News: Icahn to Seek Court Appraisal of $24.4B Dell Deal

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Latest Business News: Icahn to Seek Court Appraisal of $24.4B Dell Deal

Latest Business News: Icahn to Seek Court Appraisal of $24.4B Dell Deal
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Latest Business News: Icahn to Seek Court Appraisal of $24.4B Dell Deal

Wochit 1:32 mins

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 maker. It is Icahn's latest attempt to wrangle a higher offer from buyout group that includes company CEO Michael Dell. In an open letter outlining the maneuver Icahn urged the rest of Dell's shareholders to exercise their right for a court appraisal to determine whether the Round Rock, Texas, company is worth more than the $13.65 per share that Michael Dell's group has agreed to pay. If Microsoft CEO Steve Ballmer had a twin brother, it would be his COO Kevin Turner. Like Ballmer, he stalks the stage like a hungry bear and verbally shakes the audience by the lapels into joining the war effort to beat the competition. Speaking at Microsoft's Worldwide Partner Conference in Houston before 15,000 attendees, Turner said: "We have high respect but no fear of competitors. ... We are doubling down and making sure we are fighting and evangelizing our story." Even as consensus built within the Federal Reserve in June about the likely need to begin pulling back on economic stimulus measures soon, many officials wanted more reassurance the employment recovery was on solid ground before a policy retreat.

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