By Munsif Vengattil and Sonam Rai
(Reuters) – Activist investor Carl Icahn reported an increased 8.3 percent stake in Dell tracking stock on Monday, as he looks to block a proposed plan by the computer maker to return to the public market without an IPO.
Dell Technologies in July said it would pay $21.7 billion in cash and stock to buy back shares tied to its interest in software company VMware Inc.
Icahn and other hedge fund investors have resisted the plan, saying the proposed deal massively undervalues the tracking stock.
“I intend to do everything in my power to STOP this proposed DVMT merger,” Icahn said in an open letter to stockholders. “It is better to have peace than war, but be assured, I still enjoy a good fight for the right reasons.”