Recent media reports indicate Icahn's proposal may be losing steam as the activist considers whether to press a proposal for Dell to pay a large dividend to shareholders by leveraging the company's excess cash stockpile, which currently stands at over $10 billion.
On Friday, Carl Icahn rejected an offer from Dell to have his
were he to support the company's takeover by Silver Lake and Michael Dell.
"How does using up corporate funds to pay me to walk away from an offer that the board doesn't like, but that shareholders may, help other shareholders," Icahn said to the
Wall Street Journal
Other reports signal Michael Dell may be interested in joining the Blackstone investor group, which also includes
Insight Venture Management
For more on Dell's prospects, see how Carl Icahn and Blackstone
rebooted the takeover drama
Also see why Carl Icahn's $15 a share
could be the best offer for underwater Dell shareholders.
-- Written by Antoine Gara in New York