News Summary: Icahn, Southeastern make Dell bid

News Summary: Dell takeover bid faces fresh challenge from investors Icahn, Southeastern

Associated Press

ANOTHER OFFER: Billionaire investor Carl Icahn has teamed with Dell Inc.'s largest independent shareholder, Southeastern Asset Management, to make a new offer for the slumping PC maker.

THE DETAILS: Icahn and Southeastern plan to let Dell shareholders keep their stake in the company and give them either $12 per share in cash or additional shares.

THE BUYOUT PLAN: Michael Dell offered earlier this year to pay $13.65 per share in a deal that would take the Round Rock, Texas, company private. Icahn and Southeastern have criticized that price as too low.

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