Dell, Icahn Strike a Deal

24/7 Wall St.

Dell HQYou can’t always get what you want, but if you try, you might get what you need. That seems to be the outcome of the deal announced today between Dell Inc. (NASDAQ: DELL) and activist investor Carl Icahn, who had contemplated making a counteroffer for the computer maker.

Under today’s deal, Icahn has agreed to limit his stake in Dell to 10% of the firm’s shares in exchange for the right to contact other shareholders whose stakes do not exceed 15% of Dell about making a possible bid for the company. Icahn had suggested that he may bid $15 a share for a controlling stake in Dell, well above the offer from founder Michael Dell and Silver Lake Partners to take the company private for $13.65 a share.

A third offer of more than $14.25 a share for a controlling interest is being led by Blackstone Group L.P…

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