14 DAY TRIAL // When Michael Dell initiated the process of turning the Dell company private, he probably didn't count on someone making a better offer than the one he was arranging with a couple of partners.
Nevertheless, it happened. The gist of it is that billionaire activist investor Carl Icahn, and Blackstone Group, basically started a hostile takeover.
If the deal went through, Michael Dell could very well have lost control of his company. It was enough to make him threaten to leave the corporation with a financial black hole.
Now, Dell seems to have finally reached an agreement with Carl Icahn, under which the man and affiliated entities have agreed not to make purchases that would cause them to own more than 10% of Dell’s shares.
There would also not be any deals with other shareholders who, together with the group, would own more than 15%.
The agreement will stay in place until January 15, 2014, or until the Michael Dell/Silver Lake Partners transaction finishes the deal (a superior alternative is carried out).