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Activist investor Carl Icahn has said that it would be possible to sell Dell Technologies public again.
Photo:
brendan mcdermid / Reuters
Activist investor Carl Icahn said he has sued
Dell Technologies
Inc.
DVMT 1.24%
accusing the computer and data-storage company withholding information related to a possible deal that would take it public again.
In July, Dell Technologies made an offer to buy the stock that tracks its interest in
VMware
Inc.
VMW 1.75%
Gold DVMT. Dell's purchase of the tracking stock would provide the company, which went private in 2013, a return to public markets.
According to a statement from Mr. Icahn, he filed a lawsuit in the Delaware Chancery Court on Wednesday calling for "let him look at" material information "regarding the deal.
"DVMT Stockholders", "the statement said, calling the deal" has a conflicted transaction "and posing questions about the independent directors' involvement in the deal.
In an emailed statement Thursday, Dell defended its actions in connection with the proposed transaction.
"We strongly disagree with the merits and unfounded allegations of Mr. Icahn's motion and will be filing a response later today," the company said. The transaction is "the result of a very transparent and thorough process, including an independent Special Committee," said DVMT shareholders, "which was supported by its own financial and legal advisors," he added.
Mr. Icahn said in October that he planned on voting against the plan and that it would encourage other shareholders to do the same.
Mr. Icahn and his affiliates reported a 9.3% stake in DVMT, up from the 8.3% stake reported last month.
Dell scheduled a special meeting for shareholders to vote on the deal Dec. 11.
Write to Allison Prang at [email protected]
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