Billionaire investor Carl Icahn increased his stake in Dell ( DELL) as a shareholder vote over control of the company approaches. Icahn disclosed in a regulatory filing late Monday that he purchased an additional 4 million shares in Dell on Thursday, bringing his stake in the company to 8.9% from 8.7%. Icahn purchased the shares on the same day he filed a suit to block a delay in a shareholder vote over control of the company. Founder Michael Dell and investment firm Silver Lake Partners boosted their buyout bid for the company just one day later. Their bid is currently $13.75 a share, with shareholders receiving a special dividend of 13 cents share. A shareholder vote on the offer is scheduled for Sept. 12. Icahn has bid $15.50 a share.
Drugstore chain CVS Caremark ( CVS) reported a 16% rise in second-quarter profit that beat Wall Street expectations, driven by new generic drugs, which helped to boost operating profit in pharmacy units.
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