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Wednesday, March 6, 2013

Icahn builds Dell stake, complicating buyout -CNBC, (NASDAQ: DELL)

Activist investor Carl Icahn has built a stake of around 100 million shares in Dell Inc and wants the personal computer maker to conduct a leveraged recapitalization, complicating founder Michael Dell's effort to take the company private, CNBC reported.Icahn, who is known for shaking up management, has accumulated a stake in Dell representing 6 percent of the company, CNBC cited sources familiar with the investment as saying on Wednesday.That would make the billionaire investor, known for challenging corporations on their strategy, the next largest shareholder after Southeastern Asset Management, based on previously available data.The network reported that Icahn wanted Dell to take on debt of as much as $9 billion and pay out a special dividend to shareholders, and will likely oppose the deal.

Dell, Inc. (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Shares of DELL traded higher by 1.78% or $0.25/share to $14.32. In the past year, the shares have traded as low as $8.69 and as high as $17.46. On average, 36324200 shares of DELL exchange hands on a given day and today's volume is recorded at 59801064.