The two biggest opponents to the proposed management buyout of Dell Inc. have formally begun a proxy fight against the deal, which is scheduled to be decided in a special shareholder’s meeting July 18 in Round Rock.
Activist investor Carl Icahn and Southeastern Asset Management Inc., Dell’s largest outside shareholder, joined forces to ask shareholders to vote against the $24.4 billion buyout offer made by company founder and CEO Michael Dell and Silver Lake Partners and recommended by the Dell board of directors.
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