Activist investor Carl Icahn is demanding Dell Inc pay out $15.7 billion in special dividends, joining a growing chorus of opposition to founder Michael Dell's plan to take the world's No. 3 personal computer maker private.The billionaire investor, whose arrival on the scene typically puts companies on guard, wants the PC maker to pay $9 a share in dividends immediately from its own cash and from raising new debt.Icahn, who has a reputation for demanding aggressive changes after amassing stakes in companies, argued in a letter to the company's board published on Thursday that Michael Dell's and Silver Lake's proposed $24.4 billion takeover short-changed shareholders, undervalued the company and benefited mainly the company co-founder himself."We see no reason that the future value of Dell should not accrue to ALL the existing Dell shareholders - not just Michael Dell," Icahn wrote in the letter, which Dell disclosed in a filing.
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.
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