We knew that Dell shareholders were unhappy with the private buyout, but we didn't really get a clear idea of how great the opposition is.
According to AllThingsD, Michael Dell, the company founder, might be facing years of litigations.
Carl Icahn, one of the company's main investors, is none too pleased with the buyout plans.
Dell’s board of directors submitted a letter with the U.S. Securities and Exchange Commission.
In it, Ichan says that the price that Dell's founder offers for each share, $13.65 / 10.49-13.65 Euro, “substantially undervalues” the company.
The man expects the proxy vote to go private to fail. In that event, he says, Dell should pay shareholders a special dividend of $9 / 6.92 Euro a share, or he'll start fighting.
If the private buyout does get approved, he will become even more aggressive and, as we said, take Dell to court.