Activist investor Carl Icahn, who ended his months-long marketing campaign against Michael Dell’s deliberate buyout of Dell Inc last month, on Friday signaled his last retreat from the struggling non-public computer maker.
The billionaire, who antagonistic Michael Dell’s $25 billion offer to take Dell non-public, tweeted he will now not are searching for “appraisal rights” for his shares, a legal course of under which buyers can try to get a Delaware court to decide the honest worth of the inventory. “I withdrew my demand for appraisal of my Dell shares. According to our returns on capital, we believe now we have better uses for $2 billion,” the billionaire tweeted.
Icahn will not seek share rights
Icahn ultimate month ended his months-long effort to block the deal, smoothing the way for the largest buyout for the reason that financial predicament. Icahn, the corporate 2d biggest shareholder at the time, mentioned he would not attempt to head off the deal, and that a battle with the billionaire founder and the corporate board “can be nearly not possible to win.”