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News Summary: Icahn offers Dell buyout alternative

The Associated Press

ANOTHER OPTION: Billionaire investor Carl Icahn has proposed an alternative to Dell Inc.'s plans for a $24.4 billion buyout that would take the PC maker private.

DETAILS: Icahn said the company should offer shareholders a special dividend totaling $9 per share if they reject the buyout offer. If the board declines to promise that, Icahn wants Dell to combine a shareholder buyout vote with its annual meeting to elect new directors.

THE BUYOUT: Founder and CEO Michael Dell, backed by other investors led by investment firm Silver Lake, has offered to buy the company for $13.65 per share.