Bloomberg reported that Delaware Chancery Court Judge Leo Strine Jr. denied Carl Icahn’s bid to speed up proceedings in a lawsuit against computer maker Dell in his effort to thwart a buyout by founder Michael Dell. The article said shareholders are scheduled to vote on the $24.9 billion buyout at a special meeting September 12.
Strine agreed with Dell’s lawyers who contended Icahn’s affiliates have had ample time to evaluate the fairness of the buyout and could have made a bid but have not, Bloomberg said.
To read the full Bloomberg article click here.
Previously on abfjournal: WSJ: Icahn, Dell Head to Court Over Shareholder-Voting Changes, August 12, 2013