Daily News: August 12, 2013

WSJ: Icahn, Dell Head to Court Over Shareholder-Voting Changes


The Wall Street Journal reported that a Delaware corporate-law tribunal is expected on Monday (8/12/13) to fast-track Carl Icahn’s legal challenge to Michael Dell’s buyout deal for Dell, setting up a potential showdown between the two billionaires over their competing visions for the computer giant.

The Journal said the issue up for decision Monday is how fast the case will move. Icahn is arguing that recent changes to voting rules have robbed the company’s shareholders of the right to choose between the competing deals. Dell, meanwhile, says Icahn’s lawsuit is “just another soapbox” to publicize his fight with the special committee of the Dell’s board, the Journal noted.

To read the Wall Street Journal article click here.