Dell to go ahead with IPO despite Carl Icahn opposition

Dell Technologies said it would go ahead with it plans to go public by buying back its tracking stock, a day after activist investor Carl Icahn opposed the move.
Dell Technologies and IoTIcahn reported an increased 8.3 percent stake in Dell tracking stock on Monday, saying he intends to do everything in his power to thwart the computer manufacturer’s plans.

Dell in July announced a $21.7 billion cash-and-stock deal to buy back shares tied to its interest in software provider VMware, Reuters reported.

“Dell Technologies continues to believe that the proposed offer for DVMT shares … is fair and in the best interests of DVMT shareholders,” a Dell spokesman said in an email.

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