Rumors have continued to swirl about the intimate goings on at Dell as founder Michael Dell and a consortium of other companies attempt to take the computer maker private. A source has surfaced this week that claims billionaire Carl Icahn is set to enter the fray during the leveraged buyout attempt of Dell. According to sources, Icahn has recently acquired by a large quantity of Dell stock.
The sources claim that the billionaire has purchased approximately 100 million shares of Dell stock. If the sources are accurate, 100 million shares would give him approximately 6% ownership in Dell Computer. The sources claim that Icahn purchased many of the shares over the last two weeks while the stock prices hovered around $14.
So far, the billionaire has offered no official comment on the rumor only stating that he wouldn’t discuss Dell or his reasoning for the investment. CNBC reports that people close to the deal have said Icahn has met with advisers for Dell’s special committee and urged them to pursue a leveraged recap of the computer maker. The billionaire prefers that rather than accepting the $13.65 per share leveraged buyout offered by Michael Dell and Silverlake.
The sources also say that the advisors to the special committee have asked Icahn to sign a confidentiality agreement and join the go-shop process being conducted. However, Icahn has reportedly not signed that agreement at this time. CNBC reports that Icahn’s likely goal is to get Dell to pay shareholders a significant one-time dividend.