Dell scrambles to push buyout plan as investors revolt

If Michael Dell really thinks he can save his company by taking it private, it looks like he’ll have to go through one of the world’s most famous activist shareholders first. CNBC’s David Faber reports that investor Carl Icahn has bought up a 6% stake in Dell (DELL) and who may block the company’s proposed leveraged buyout plan. Faber says that Icahn likely “is going to come out against the deal and urge the board to lever up to provide a special one-time dividend” to compensate shareholders. Icahn’s actions come after Bloomberg reported earlier on Wednesday that Dell had started an aggressive campaign to justify the terms of the LBO to its shareholders and explained that it had “considered options including a leveraged recapitalization, changing the dividend policy and shedding some business units” as alternatives.