Billionaire investor Carl Icahn on Tuesday said a “major investment bank” is willing to commit $1.6 billion to his buyout plan for Dell Inc. as he challenged the company’s argument that his proposal was risky and does not have enough financing.
Icahn and Southeastern Asset Management have contested a plan by Dell Chief Executive Michael Dell and Silver Lake to take the Texas computer company private in a $24.4 billion deal, or $13.65 a share. Icahn has argued that the proposal undervalues the company.
Shareholders will vote on Michael Dell’s proposal on July 18. Icahn and Southeastern Assset Management are waging a proxy battle to stop the plan.