mr. icahn a point in his letter saying that's an empty threat he does not believe there will be an ipo from dell. dell over comes the massive of execution challenges of an ipo cram down. knowing that you have to issue a lot more stocks to take in the tracker. he says applicable law will suffocate dell ability his point is delaware law and the fairness standards of delaware law, surely we can hold off to that. it is why he believes he can tie them up for litigation for years to come. i will tell you some of the banks have given him indication that i shared with you, jim. an serious. jamie dimon was in one of the meetings, moynihan from b of a, these are senior people who don't believe they would take on a large litigation risk if they took dell public, as is its right to do so and then buy in that tracker another is doing nothing that's what you saw there. let's bring that back up icahn also says your idea that you'll do nothing, pull out of the this transaction but won't do another, time goes o

mr. icahnng to a fund. ite rail fund, they'll pay 70 bucks per share in cash. you can see it is quite a premium, is it >> yes >> 51% premium to close. transaction values is about 11.5 times 2019 consensus i just want to mention it. we are in for mr. icahn. he's got plenty of money >> his performances have been better lately but mix when you look at big numbers over a long period of time many energy investments he made did not pay off until at all or recently he's involved in the dell fight. dell does have a meeting date now, the 11th of noviember is when they'll have the meeting. the tracking stock for vm ware for actual dell and cash there is great opposition to it. mr. icahn believes they'll not be able to do it and won't get the vote in favor and does not believe that they'll go public because he thinks it would be incredibly diluted and opening it up. in delaware in terms of fairness, worth going into it and with a later date. not today. >> engineering selling its energy business. stock hav

mr. icahnned scott walker and i in an interview and he discussed one of his key reasons for why he thinks that ipo is doa, and it has to do with delaware law. take a listen and we'll explain more >> they can do ipo we are not objecting to ipo. you can't go say by the way if you don't take the deal i am offering you now, we'll do an ipo. >> and he's pointing there about fairness and this orning, ther is a no doubt - analyzes these kinds of situations. under delaware law in a transaction of a controlled shareholders, requirements must be satisfied in order to avoid applications of entire fairness. they go onto say the vote of minority shareholders must not have been coerced. the timing of dell consideration for additional ipo is contingency if it is not appr e approved by shareholders and created an argument that entire fairness applies that would seem to be where mr. icahn want to go in terms of litigation and delaware and everyone the threat of it potentially holding them up would aid in his or

icahn. >> $6.5 we saul sidewood mr. berns we were right. he woupd up piet in a major way bhe he bets on his stock any time somebody puts the money where the mouth is you got to be behind it. they resigned the director of distribution i love think lions gate goes higher >> i think this ds stands out. one of the things that made jamie dimon back when he bought jp morgan steve wooin steve wynn bought more. when i see this i love seeing this that. that's commitment. >> you know, michael talked about the international opportunity. again the distribution partner is amazon prime. he talked about how important that is. i just -- that is very important and it's also key the consolidates in the industry he is often told us he is agnostic on who. >> we will see. >> one of the best shows was counterpart. a couple more hits like that this company with a $5 billion market cap is on theho srt list for take overs >> up next, final trades >> you know you can buy ebay tony braxton final trade, pete. >> lions gate. he bought i buy. >> boom. >> bank of america

. >>> carl icahn is gearing up for yet another fight with michael dell this time over mr. dell's plan to acquire shares in a tracking stock known as dvmt. the tracker was created after dell's purchase of emc to capture the value of the company's stake in vmware, urging them. joining us today from the new york stock exchange is my colleague, cnbc's david faber. david, good to have you with us. carl, are you there? >> i'm here. how are you doing, dave and scott? >> we're doing well. i have the letter in front of me, carl, where you say, quote, i intend to do everything in my power to stop this proposed merger be assured i still enjoy a good fight for the right reasons. why is this the time for another fight with michael dell? >> well, it's really not necessarily a fight because it's michael dell, it came to my attention, actually, from a number of people who called me up and asked me to help. that's happened quite a bit over the years. i've gotten help from those who asked for help that's why i'm there after studying it, it didn't appear to be the tracker was the way to inve

carl icahn, donald dell, they had this tracking stock and now they are going to try to go public with the earnings and they have a value placed on the shares that mr doesn't like very much. it's very complicated, but it comes down to michael dell wanting to do something and carl icahn, who has been a burr in the side of michael dell since the initial deal, saying that there's not enough money. same: it's always the thing, lowballing. 94 or something like that? jason: what's interesting is that there are really two things are ultimately much cleaner, take the whole thing public and see what the market is willing to pay for it, which is carl icahn saying that they are just blowing smoke if you think that that is an actual option, this is what they really want to do. and silver lake is involved as well. they want to cash out. jason: first, understanding this whole thing, he says he prefers peace to war, but sometimes you have to go to war. does he, though? i don't know if i believe that. by far this is my favorite story of the day. they are trying to change how people interact with their clients, they want to hire flight attendants and television pro

mr. ambassador, thank you for your time. see you soon. >> thank you >>> coming up at the top of the hour halftime report, legendary investor carl icahn isth david faber and scott walker that's noon eastern. must watchv. t don't want to miss it. "squawk alley" back after the break. she thought it was a fire. it was worse. a sinkhole opened up under our museum. eight priceless corvettes had plunged into it. chubb was there within hours. they helped make sure it was safe. we had everyone we needed to get our museum back up and running, and we opened the next day. >>> the percentage of americans saying now is a good time to invest is reaching an all-time high according to the all america survey steve liesman joins us now normally i would say that might be a bad sign, but all america survey has been right for awhile. >> it has done pretty well i have to warn you, these results are from a survey last weekend, not the recent one, so before the market sell off but it is instructive to look. what you see as jon was saying, missed out on the bull market that ran from '08, '09 through '15. but it popped up a lot of public was on board 51% of the p