{"id":36553,"date":"2013-07-03T12:49:47","date_gmt":"2013-07-03T16:49:47","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=36553"},"modified":"2013-07-03T13:00:18","modified_gmt":"2013-07-03T17:00:18","slug":"hedge-fund-activist-raises-over-5-billion-for-dell-bid","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/07\/2013\/hedge-fund-activist-raises-over-5-billion-for-dell-bid.html","title":{"rendered":"Hedge Fund Activist Ichan Raises Over $5 Billion For Dell Bid"},"content":{"rendered":"

\"dell-logo\"<\/a>New York (HedgeCo.Net) – Activist hedge fund investor Carl Icahn and partner Jefferies & Co., have secured $5.2 billion\u00a0in financing for their\u00a0bid for a leveraged recapitalization of\u00a0Dell, according to Reuters.<\/p>\n

“With that we put an end to the unwarranted speculation by Dell that our money would not be available,” Icahn said in a letter to other shareholders. \u00a0He is currently\u00a0the second-largest Dell shareholder.<\/p>\n

Reuters says: “Obtaining the debt financing marks a critical step forward for Icahn’s and Southeastern Asset Management’s alternative offer for the company. Icahn and Southeastern are proposing that Dell buy back 1.1 billion shares at $14 apiece.\u00a0The tender offer compares with founder Michael Dell’s and Silver Lake Partners’ $24.4 billion buyout at $13.65 a share, a price Icahn said substantially undervalues the company.”<\/p>\n

Ichan secured the $5.2 billion in loans from several banks and institutional investors, according to reports, it includes\u00a0a 6-year loan worth $2.2 billion, as well as a 3.5-year loan for $3 billion. The sum is part of a much broader plan on Icahn’s part to essentially take control over the company and provide an alternative to Michael Dell’s buyout deal that would take his company private.<\/p>\n

Alex Akesson
\nEditor for\u00a0HedgeCo.net<\/a>
\nalex@hedgeco.net<\/a>
\nHedgeCo.Net<\/a>\u00a0is a premier\u00a0hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0Hedge Funds<\/a>!<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

New York (HedgeCo.Net) – Activist hedge fund investor Carl Icahn and partner Jefferies & Co., have secured $5.2 billion\u00a0in financing for their\u00a0bid for a leveraged recapitalization of\u00a0Dell, according to Reuters. “With that we put an end to the unwarranted speculation […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-36553","post","type-post","status-publish","format-standard","hentry","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=36553"}],"version-history":[{"count":7,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36553\/revisions"}],"predecessor-version":[{"id":36557,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36553\/revisions\/36557"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=36553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=36553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=36553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}