Billionaire investor Carl Icahn is proposing that Dell shareholders get a chance to own a bigger stake in the struggling computer maker in hopes of thwarting an attempt by the company's founder to buy it for $24.4 billion and take it private.
Icahn, who owns a nearly 9 percent stake in Dell, now wants shareholders to receive warrants in addition to the cash he previously offered.
Under his revised offer, Dell would "self-tender" 1.1 billion shares of its stock for the originally proposed $14 per share, plus one warrant for every four of their shares. The warrant would give shareholders the right to buy one Dell share for $20 over the next seven years. Dell's shares haven't traded above $20 since September 2008.