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Dell Says No to Icahn's Buyout Bid

courtesy Dell Inc.

One of the largest employers in Central Texas is rejecting a buyout offer from billionaire Carl Icahn.

A special committee of Dell’s board says it would rather investors accept a $24 billion buyout offer from company founder Michael Dell and private equity firm Silver Lake Partners. That plan would take the company private.

Icahn’s plan would have kept Dell as a publicly traded company.

Shareholders will vote on Michael Dell’s buyout offer on July 18. Dell employs about 14,000 people in Central Texas.