Carl Icahn, who is attempting to buy out technology company Dell in opposition to company founder Michael Dell, has sued the company and its board as the bidding war continues.
Icahn asked the court to block changes in the rules of board voting, which were proposed by Michael Dell ahead of a vote that was supposed to take place on Friday. At the same time, Icahn is pushing to have the court block Dell from changing the record date at which shareholders must have purchased shares in order to be given a vote.
Further reading Michael Dell's bid for Dell on the brink of collapse after company rejects voting change Michael Dell: Taking Dell private is 'the right thing to do' Michael Dell raises bid for Dell – by ten cents – then postpones vote to decide company's future
Currently, Michael Dell wants to allow voting from any Dell shares bought since 5th February 2013 - when the buyout bid was announced - at any shareholder meeting.
Talks, which CNBC has described as "tenuous", are still going on between the buyout group and Dell's special board committee, and progress is believed to be being made.
A vote on the buyout, which has already been postponed twice, is still scheduled for Friday, with sources close to the matter already having stated another postponement is unlikely.
Michael Dell's offer on the table currently stands at $23.4bn - which translates to $13.65 per share. However, Michael Dell wants to raise this to $13.75 per share which, with the change in the record date he is seeking, would allow a larger pool of stock owners to vote on the decision.
