Carl Icahn Fires Back at Dell Committee

Carl Icahn fires a new salvo at Dell's leadership for its recent comments on his bid for control of company.

 Last week, the activist investor proposed in a letter to shareholders that Dell undertake a tender offer for 1.1 billion shares at $14 each as an alternative to Michael Dell and Silver Lake Partners' proposal to take the computer maker private.

(Read More: Icahn Proposes Dell Tender, Becomes Second Largest Shareholder )

"To me the company seems desperate because they keep obfuscating the facts," he told CNBC.

"They now say the $5.2 billion we are raising will not be enough to pay a tender offer of $14/share. The reason they give is that we will need the money to pay back the Dell debt that's coming due. However the debt doesn't come due for a year and a half."

Icahn was responding to the company's special committee saying his proposal was "lacking credibility and inconsistent."

(Read More: Carl Icahn Could Drop Out of Dell Deal )

"What I learned in Finance 101 is that bonds have an expiration date for a purpose. You don't have to pay them back until the expiration date is reached," he said.

"Additionally, when the tender offer is over, the company will have $5 (billion) in cash and will earn operating income of $3 billion, according to Dell's own consultant, BCG."

- B y CNBC's Scott Wapner. Follow him on Twitter @ScottWapnerCNBC.

Related Stories

image: © michandryan

Have something to tell us about this article?