Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.
Cloud Expo on Google News
SYS-CON.TV

2008 West
DIAMOND SPONSOR:
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
PLATINUM SPONSORS:
Red Hat
The Opening of Virtualization
GOLD SPONSORS:
Appsense
User Environment Management – The Third Layer of the Desktop
Cordys
Cloud Computing for Business Agility
EMC
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Intel
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Sensedia
Return on Assests: Bringing Visibility to your SOA Strategy
Symantec
Managing Hybrid Endpoint Environments
VMWare
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
PLATINUM SPONSORS:
Appcelerator
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
GOLD SPONSORS:
ICEsoft
How Can AJAX Improve Homeland Security?
Isomorphic
Beyond Widgets: What a RIA Platform Should Offer
Oracle
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
Carl Icahn Threatens Michael Dell’s LBO
He claims his dividend scheme is superior to the current $13.65-per-share offer price

Carl Icahn, the famous "gangsta"-style activist investor, has stepped into the middle of Dell's $24.4 billion leveraged buy-out, threatening "years of litigation" if he doesn't get his way.

He has apparently amassed a 6% position in Dell, making him the company's second-largest outside stockholder, and he wants a $9-a-share special dividend paid out instead of letting Dell founder Michael Dell take the company private.

In a letter to Dell's board Thursday Icahn proposed that the dividend be paid if shareholders voted down the LBO and wants the vote combined with the company annual stockholders meeting so stockholders also vote on the board.

If they don't do that - that's where he's promising "years of litigation" challenging the LBO.

He claims his dividend scheme is superior to the current $13.65-per-share offer price although CNBC cast a question mark over Icahn's $9 arithmetic.

He is also obviously threatening to mount a proxy fight to unseat Dell's current board and implement a leveraged recapitalization and the dividend proposal, which would require new debt.

He said that if his slate of directors is elected Icahn Enterprises would provide a $2 billion bridge loan and he would personally provide a $3.25 billion bridge loan if needed - on commercial terms of course.

The special committee of the Dell board said Wednesday that it had unanimously decided after five months of consideration that the LBO was the best course for stockholders and had "negotiated aggressively" to get the best price. It said it considered breaking up the company, a leveraged recapitalization, a change to the dividend or doing nothing.

In response to Icahn it said it was still looking for a better alternative through a "robust" go-shop process that had the bankers at Evercore actively soliciting alternative proposals.

The go-shop period ends March 22 and the board welcomed Icahn's help finding an alternative. Reportedly Lenovo and HP aren't interested. And Blackstone, the private equity house, is apparently ambivalent about getting involved.

Dell's largest independent shareholder with an 8.4% position is Southeastern Asset Management, which is violently opposed to the LBO because the price is too low and it will lose money. It has also suggested a leveraged recapitalization and is hankering after a $12-a-share dividend.

Earlier this week it accused Dell of withholding information from stockholders. It wants a list of stockholders. It thinks Dell is worth around $24 a share.

T. Rowe Price, another large stockholder, is also opposed to the LBO.

Michael needs 42% of stock held by outsiders to back him. Abstentions count as "no." His opposition counting Icahn currently stands at around 21%.

Dell's shares are over Michael's price at around $4.20-$4.25.

About Maureen O'Gara
Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

In order to post a comment you need to be registered and logged in.

Register | Sign-in

Reader Feedback: Page 1 of 1

Latest AJAXWorld RIA Stories
Companies are harnessing data in ways we once associated with science fiction. Analysts have access to a plethora of visualization and reporting tools, but considering the vast amount of data businesses collect and limitations of CPUs, end users are forced to design their structu...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct ...
In his session at 21st Cloud Expo, James Henry, Co-CEO/CTO of Calgary Scientific Inc., introduced you to the challenges, solutions and benefits of training AI systems to solve visual problems with an emphasis on improving AIs with continuous training in the field. He explored app...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta...
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – N...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021


SYS-CON Featured Whitepapers
ADS BY GOOGLE