Michael Dell’s plans to take the company he founded private have been given a boost as his main opponent decides to bow out of their long-running spat.
Investor Carl Icahn has been a vocal opponent of Dell since he announced his plans to buy back the company earlier this year, filing lawsuits to prevent the takeover and trying to delay a shareholder vote set for this week.
According to a report on Reuters, Icahn said it “would be almost impossible to win” against Dell.
However, he said that while he will not pursue additional efforts to block the deal, he still opposed it and will instead move to seek appraisal rights.
In his letter, Icahn said: “The Dell board, like so many boards in this country, reminds me of Clark Gable’s last words in Gone with the Wind: they simply don’t give a damn.”
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