The Dell buyout saga continues apace, with activist investor Carl Icahn teaming up with Southeastern Asset Management to provide yet another alternative to founder Michael Dell's $24.4bn (£15.9bn) offer to buy back his company.
In a letter to the company's board, Icahn and Southeastern suggested that the current owners of Dell keep their equity position, but with the bonus of $12 per share in cash or stock.
Further reading
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Michael Dell, who has teamed up with private equity firm Silver Lake, wants to take Dell private for $13.65 per share.
Dell's board has stated that it is reviewing the new offer, and will supply comment in "due course".
Icahn and Southeastern currently hold around 13 per cent of Dell's stock, but a previous proposal of $15 per share for 58 per cent of the company did not win them favour. They have also stated that if Dell goes with Michael Dell's offer to take the company private, they will attempt to challenge the board's decision by way of 12 directors.
If Michael Dell succeeds in taking the company private, the sale would be the biggest private equity-led buyout of a business since 2008's financial crisis.
Dell shares rose 0.5 per cent today in response to this latest development.
