Billionaire investor Carl Icahn and affiliates provided $3.42 billion, or 66 percent, of the debt financing to back his bid for personal computer maker Dell Inc , but even this fully financed offer faces an uphill battle.Lead lender Jefferies & Co provided $1.6 billion, or 30 percent of the overall $5.2 billion in committed financing with the remainder of about $179 million coming from 14 institutional funds, including pension funds and insurance companies, according to a U.S. Securities and Exchange Commission filing published on Tuesday."The fact that he could not get lending from other banks suggests they are not too friendly to this," said Steven Kaplan, a University of Chicago finance professor. "However, one must note that a few banks are locked up with the Silver Lake offer.""On the positive side, Icahn is putting a lot of money where his mouth is," Kaplan added.
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 0.53% or $0.07/share to $13.38. In the past year, the shares have traded as low as $8.69 and as high as $14.64. On average, 20314300 shares of DELL exchange hands on a given day and today's volume is recorded at 21958396.
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