ROUND ROCK (dpa-AFX) - Dell, Inc. (DELL), on Friday said it sent a letter to Carl Icahn, welcoming Icahn' participation in expense reimbursement in connection with the alternative transaction he proposed to the definitive merger agreement between the company and its entities owned by Michael Dell, Silver Lake Partners.
In the letter, Dell said its Committee 'encouraged' Icahn' continuing participation in its process, and also that it hoped for a superior proposal when compared to the currently pending merger.
The company in a statement added that it was willing to provide the same expense reimbursement that it has made available to other two bidders, subject to Icahn committing contractually to work within the company' process.
Also, the company expressed concern over Icahn threatening the Company's directors with 'years of litigation' and a proxy fight. The company said it would have to 'respectfully decline' Icahn' request for expense reimbursement, if Icahn continued to employ tactics that would prolong the instability and uncertainty facing the company.
Further, Dell said it remained willing to grant the Delaware waiver Icahn requested, in exchange for the protections for Dell and its stockholders it has outlined.
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