Dell Earnings Don't Matter If Icahn Campaign Hardens
NEW YORK (TheStreet) -- Dell's (DELL) earnings, no matter how bad they are, will take a backseat to a campaign being run by activist investor Carl Icahn to scuttle the PC-maker's $13.65 a share takeover by Silver Lake Partners and founder Michael Dell.
Dell's earnings are coming about a week ahead of schedule and CNBC reports the company may miss estimates. The question is whether earnings will have any material impact on Icahn's interest in competing for Dell after other bidders dropped out of the running for the struggling PC maker.
Already, Icahn has called Dell's takeover "the great giveaway" and sees significant value in returning the company's cash stockpile to shareholders and giving investors a leveraged stake in the company's potential turnaround or breakup.
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