Icahn Bows Out of Dell Fight With Plug for His Twitter Feed

Activist-investor Carl Icahn threw in the towel on his fight over the go-private sale of Dell to company founder Michael Dell and Silver Lake Management — using the moment of concession to solicit more Twitter followers.

Dell shareholders are scheduled to vote Thursday on the $24.9 billion offer to take the struggling computer maker private. In a letter Monday, Icahn maintained that the offer for the company — roughly 70% below Dell’s 10-year high of $42.38 — remains too low. “We have determined that it would be almost impossible to win the battle on September 12th,” Icahn wrote. “We have therefore come to the conclusion that we will not pursue additional efforts to defeat the Michael Dell/Silver Lake proposal, although we still oppose it and will move to seek appraisal rights.” Read more...