Dell, Icahn spar over buyout proposal

May 20, 2013, 11:08 AM EDT
A man wipes the logo of the Dell IT firm at the CeBIT exhibition centre in Hannover in this file photo taken February 28, 2010.
REUTERS/Thomas Peter/Files

Dell's board has told activist investor Carl Icahn and Southeastern Asset Management that they will not be given more information about the company unless they clarify the terms of their proposal challenging founder Michael Dell's proposed buyout of the computer maker. Icahn and Southeastern want existing Dell shareholders to receive a special dividend before the company is taken private and to be issued extra stock in the recapitalized company. They have not yet, however, met a request from Dell to explain how their proposals would be financed.