INSUBCONTINENT EXCLUSIVE:
Activist investor Carl Icahn sued Dell Technologies on Thursday, alleging that the computer maker did not disclose financial information
related to its plans to go public by buying back its tracking stock.Mr Icahn, who owns 9.3 per cent of Dell, called the proposed deal a
"conflicted transaction that benefits the controlling stockholders, at the expense of the DVMT stockholders".Dell said in July it would pay
$21.7 billion in cash and stock to buy back shares tied to its interest in software company VMware Inc, returning it to the stock market
without an initial public offering.Mr Icahn and other hedge fund investors have resisted the plan, saying the proposed deal massively
undervalues the tracking stock."We believe this is a threat blatantly deployed in an attempt to coerce DVMT stockholders to vote in favor of
the merger, or else risk the unknown consequences of the forced IPO conversion," Mr Icahn said on Thursday, urging investors to vote against
the deal.Mr Icahn is no stranger to lawsuits
He sued AmTrust Financial Services earlier this year over its go-private plans.The investor also turned legal arguments against Dell in the
past, having alleged that Michael Dell and Silver Lake undervalued the company's go-private deal several years ago.Mr Icahn, along with
investor Darwin Deason, also urged Xerox Corp shareholders earlier this year to oppose a sale to Japan's Fujifilm Holdings.Dell declined to
comment, while Mr Icahn did not immediately respond to requests for comment.
