Icahn, Southeastern Propose Alternative to Dell Buyout

Two of Dell Inc.’s largest stockholders, investor Carl Icahn and Southeastern Asset Management Inc., proposed an alternative offer to a $24.4 billion deal to buy out the company’s public stockholders.

In a letter to Dell’s board, Mr. Icahn and Southeastern said they propose giving Dell shareholders the option to keep holding stock in the company, and take an additional $12 a share in cash or stock, according to a copy of the correspondence reviewed by The Wall Street Journal.

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