Dell’s special committee just rejected CEO Michael Dell’s offer to raise his bid for the company to $13.75 a share in exchange for a voting rule change, CNBC’s David Faber reports.
What that means is that Carl Icahn chances for gaining control of the company just shot up.
The last two votes were canceled because of lower than expected turnout among shareholders. The rule Michael Dell and his group wanted to change was the counting of those absentee votes as “no” votes.
Around 23% of shareholders didn’t vote on the deal last time, according to WSJ, which was a big blow to the CEO’s side.
Now it looks like those absentees are going to remain “nays” — good news for Carl Icahn.
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