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Friday, March 8, 2013

RPT-CORRECTED-Dell shareholder Icahn opposes go-private deal, seeks payout, (NASDAQ: DELL)

Activist investor Carl Icahn urged Dell Inc to pay out $15.7 billion in a special dividend, joining a growing chorus of opposition to founder Michael Dell's plan to take the world's No. 3 personal computer maker private.Icahn wrote to Dell's board to propose a leveraged recapitalization and said that the $24.4 billion go-private deal "substantially undervalues the company".Icahn's arrival on the scene typically puts companies - and their boards - on guard, because the outspoken billionaire has a reputation for aggressively demanding changes by building up stakes."When Carl Icahn talks, people need to listen - especially, in this case, the Dell board," said Dr. Anthony Michael Sabino, a professor in the law department at St. John's University's Peter J. Tobin College of Business.

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 fell by 0.7% or $-0.1/share to $14.22. In the past year, the shares have traded as low as $8.69 and as high as $17.46. On average, 37163800 shares of DELL exchange hands on a given day and today's volume is recorded at 32960186.