WSJ: Icahn refuses to drop Dell proxy fight

Apr 06, 2013, 6:14 PM EDT
Investor Carl Icahn speaks at the Wall Street Journal Deals & Deal Makers conference at the New York Stock Exchange in this June 27, 2007 file photograph.
REUTERS/Chip East/Files

Billionaire investor Carl Icahn is refusing to drop the option of a proxy fight to force Dell to pay a big dividend, in spite of the board committee's request that he drop his threats and launch a formal bid for the company, the Wall Street Journal reports. Icahn and the Blackstone Group have both made counter proposals to a $24.4 billion buyout of the No. 3 computer maker proposed by founder Michael Dell and private equity firm Silver Lake Partners.