Icahn sweetens Dell counterproposal with warrants
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Billionaire investor Carl Icahn, right, is offering Dell shareholders a chance to own a bigger stake in the company in hopes of thwarting an attempt by Dell founder Michael Dell, left, to buy it and take it private.
NEW YORK -- 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, now wants to offer shareholders warrants in addition to cash.
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 counterproposal at about $15.50 to $18 per share.
Michael Dell and Silver Lake Partners have offered $13.65 per share.
Dell shares slipped 4 cents to $13.31 in morning trading.
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