Icahn sweetens offer for Dell shares with warrants
Icahn boosts bid for Dell, adding warrants to previous offer of $14 per share
NEW YORK (AP) -- Billionaire investor Carl Icahn is offering Dell shareholders a chance to own a bigger stake in the company in hopes of thwarting an attempt by Dell's founder to buy it and take it private.
Icahn, who owns a nearly 9 percent stake in Dell, is now offering warrants in addition to the cash he previously offered.
Under his revised offer, shareholders could receive $14 per share, plus one warrant for every four of their shares. The warrant would give shareholders the right to buy one Dell share for $20 over the next seven years.
In a letter to shareholders, Icahn values his offer at about $15.50 to $18 per share.
Michael Dell and Silver Lake Partners have offered $13.65 per share for the company.
Dell shares slipped 4 cents to $13.31 in morning trading.
