Icahn waves white flag on blocking Dell deal

Carl Icahn Laboratory

Billionaire activist investor Carl Icahn waved a white flag of surrender in his effort to derail Dell's $25 billion bid to go private, saying a path to victory was "impossible" given the obstacles.

In a letter to the computer giant's shareholders, Icahn determined that the offer on the table from Silver Lake Partners undervalued the company.

However, he made clear he was abandoning his efforts, after months of bitter public feuding and courtroom maneuvers.

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image: © David Goehring