Icahn,Dell sign confidentiality pact

In a brief statement,Icahns firm said that it looks forward to commencing its review of Dells confidential information.

The signing of the confidentiality agreement may keep Icahn from speaking out against Dells planned sale to its founder,Michael S Dell,and the investment firm Silver Lake. Icahn had threatened to challenge the deal in a letter to the firms board,indicating that he would call for the company to borrow money and pay out a special dividend.

Over days of negotiations last week,advisers to a special committee of Dells board successfully coaxed Icahn into signing a confidentiality agreement.

The directors had wanted Icahn to provide a proposal during the so-called go-shop process aimed at drawing higher bids than Dells 13.65-a-share offer.

One option is a preliminary proposal Icahn had floated early on in talks with the Dell committee,in which he would run a tender offer for some of the companys shares at a price of 15 each.

He later focused on his demand for a special dividend,a move that the special committee said it had already considered and discarded as inferior to Dells offer.