ROUND ROCK, Texas - Dell said Monday that it needs more information about billionaire Carl Icahn and Southeastern Asset Management’s alternative buyout offer before it could give two of its biggest shareholders more information about the PC maker.
In a letter sent by Dell’s special committee of the board of directors to Icahnand Southeastern, the company said it needs more materials and clarification on the pair’s bid.
The company said unless its board determines that the Icahn-Southeastern offer is a “superior proposal,” it is not allowed to provide information or hold talks related to the bid.
Dell said that unless it receives the information it requested, it is not in a position to evaluate whether the alternative bid is a superior proposal.
Icahn and Southeastern are trying to block the sale of Dell Inc. to founder and Chief Executive Officer Michael Dell and other investors. That group has offered to buy Dell for $24.4 billion, or $13.65 per share, but some shareholders argue that price is too low.
Dell shares rose 1 cent Monday to close at $13.41.
Business, Pages 24 on 05/21/2013