Activist investor Carl Icahn said on Monday he would no longer pursue efforts to block founder Michael Dell's proposed $25 billion takeover of Dell Inc , determining "it would be almost impossible to win."Icahn's move effectively ended a battle that has raged since March, pitting Michael Dell and private equity firm Silver Lake Partners against Icahn and money manager Southeastern Asset Management.A shareholder vote on the offer is scheduled for Thursday. Icahn is Dell Inc's second-largest shareholder, with a stake of 8.9 percent.Michael Dell has sought to take the company private to transform it - away from public scrutiny - to a provider of enterprise computing services, from a maker of personal computers. Icahn argued that Michael Dell's offer undervalued the company's shares.
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 remained unchanged at $13.84. In the past year, the shares have traded as low as $8.69 and as high as $14.64. On average, 23431800 shares of DELL exchange hands on a given day and today's volume is recorded at 19173084.
Source
