Daily News: July 2, 2013

WSJ: Icahn Raises $5.2 Billion for Dell Deal

The Wall Street Journal is reporting that investor Carl Icahn has raised more than $5 billion to finance his plan to recapitalize ailing personal-computer maker Dell, a move he said should end speculation that the funds wouldn’t be available.

The Journal said that Icahn submitted a letter to Dell shareholders and members of its special committee saying he had obtained commitments for $5.2 billion in debt financing which, coupled with $7.5 billion in cash at Dell and $2.9 billion from the sale of receivables, will support Icahn’s proposal to launch a tender offer for as much as $16 billion of Dell’s shares.

To read the entire Wall Street Journal article, click here.

Previously on abfjournal: Reuters: Jefferies Sets Pricing on Loan for Icahn’s Dell Bid, June 25, 2013