Dell Seeks Buyout Vote, Sets Up Showdown With Icahn

Michael Dell

Dell said it will hold a special meeting for shareholders on July 18 to vote on a proposed $24.4 billion buyout led by founder and Chief Executive Michael Dell, setting up a possible showdown with billionaire Carl Icahn.

A special committee of Dell's board also issued a letter to shareholders recommending that they vote to approve the deal.

Activist investor Carl Icahn and Southeastern Asset Management Inc have mounted a rival bid.

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