Dell Reaches Deal with Activist Investor Icahn

Reuters

Dell Inc said it struck a deal with billionaire Carl Icahn to limit his investment in the company, while in return allowing him to enter agreements with other shareholders on a potential bid for the PC maker.

The agreement with Icahn states that the activist investor would not make purchases that would cause him to own over 10 percent of Dell's shares or sign deals with other shareholders who, together with the Icahn entities, would collectively own more than 15 percent, Dell said on Tuesday.

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(Reporting By Nicola Leske; Editing by Gerald E. McCormick)