Dell maintains plans to go public despite Icahn opposition

(Reuters) - Dell Technologies Inc said on Tuesday it was sticking to its plans to go public by buying back its tracking stock, a day after activist investor Carl Icahn opposed the move. Icahn reported an increased 8.3 percent stake in Dell tracking stock on Monday, saying he intends to do everything in his power to thwart the computer manufacturer's plans.

Reuters October 17, 2018 01:05:28 IST
Dell maintains plans to go public despite Icahn opposition

Dell maintains plans to go public despite Icahn opposition

(Reuters) - Dell Technologies Inc said on Tuesday it was sticking to its plans to go public by buying back its tracking stock, a day after activist investor Carl Icahn opposed the move.

Icahn reported an increased 8.3 percent stake in Dell tracking stock on Monday, saying he intends to do everything in his power to thwart the computer manufacturer's plans.

Dell in July announced a $21.7 billion cash-and-stock deal to buy back shares tied to its interest in software provider VMware.

"Dell Technologies continues to believe that the proposed offer for DVMT shares ... is fair and in the best interests of DVMT shareholders," a Dell spokesman said in an email.

(Reporting by Vibhuti Sharma in Bengaluru; Editing by Sai Sachin Ravikumar)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

Tesla plans to export China-made Model 3s to Asia and Europe - sources
Business

Tesla plans to export China-made Model 3s to Asia and Europe - sources

SHANGHAI (Reuters) - Tesla is planning to export Model 3 vehicles made in China to Asian and European markets, two sources familiar with the matter told Reuters on Friday. The U.S.

Used cars drive U.S. consumer prices higher; inflation pressures firming
Business

Used cars drive U.S. consumer prices higher; inflation pressures firming

By Lucia Mutikani WASHINGTON (Reuters) - U.S. consumer prices rose solidly in August, with the cost of used cars and trucks accelerating by the most in more than 51 years likely as Americans shunned public transportation because of fears of contracting COVID-19

Insurer Aviva sells Singapore unit as new CEO shifts focus
Business

Insurer Aviva sells Singapore unit as new CEO shifts focus

By Tanishaa Nadkar and Pushkala Aripaka (Reuters) - Life and general insurer Aviva is offloading its Singapore business to a consortium led by Singapore Life, for S$2.7 billion ($1.98 billion), as the London-listed firm sharpens its focus on Britain, Ireland and Canada.