DISGRUNTLED INVESTOR Carl Icahn has sent a letter to Dell shareholders in which he reiterated that Michael Dell has undervalued the company, while still beating his rival bid.
He also suggested that they should all start following him on Twitter to read his financial and investment wisdom.
"The Dell board, like so many boards in this country, reminds me of Clark Gable's last words in 'Gone with the Wind,' they simply 'don't give a damn.' If you are incensed by the actions of the Dell Board as much as I am, I hope you will choose to follow me on Twitter where from time to time I give my investment insights," he said.
"I also intend to point out what I consider to be unconscionable actions by boards and discuss what remedies shareholders may take to change the situation."
This invitation aside, Icahn didn't have much to say about Michael Dell's buyout offer to take the company private, except to acknowledge that his competing offer has been beaten.
"However, over the last decade, mainly through 'activism' we have enhanced stockholder value in many companies by billions of dollars. We did not accomplish this by waging battles that we thought we would lose. Michael Dell/Silver Lake waged a hard fought battle and according to Chancellor Strine, the actions by Dell were within the Delaware law. We therefore congratulate Michael Dell and I intend to call him to wish him good luck (he may need it)," he said.
Icahn said that stockholders will now get more money than they might have if they had taken the first offer, but added that "we will never know" how much more they might have received.
Michael Dell and his buyout partners are now expected to emerge victorious in the Dell shareholder vote this Thursday. µ
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