Dell‘s (NASDAQ: DELL) board of directors and Carl Icahn have signed an agreement to limit the investor and affiliated entities from owning more than 10 percent of Dell.
Icahn also agreed to not enter into agreements with other shareholders to own more than 15 percent of Dell’s shares between them, Dell said Monday.
The activist investor proposed to buy 58 percent of Dell’s stock at $15 $per share in March and a special committee in Dell’s board of directors was set to evaluate that proposal.
Michael Dell and investment firm Silver Lake plan to take the company private in a $24.4 billion transaction.
Dell said this agreement with Icahn is set to expire upon the completion of either that transaction, a proposal the committee deems superior or on Jan. 15, 2014.