DVMT Dell Technologies Inc. Class V (delisted)

   By Josh Beckerman 
 

After Dell Technologies Inc. raised its offer to buy out an affiliate known as DVMT, Carl Icahn said he is withdrawing a lawsuit and terminating a proxy contest.

"Largely due to our opposition, today Dell enhanced the deal by reducing the value being diverted from DVMT stockholders from over $11 billion to $8 billion," Mr. Icahn said.

Dell said Thursday that its new offer for DVMT, which tracks the value of Dell's stake in software maker VMware Inc., implies a value of about $24 billion.

--Micah Maidenberg contributed to this article.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

November 15, 2018 17:07 ET (22:07 GMT)

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