The arduous journey to $9 per share.
FORTUNE -- Carl Icahn on Tuesday sent a letter to the Dell Inc. (DELL) board of directors, laying out his alternative to the company's agreement to be acquired for $24.4 billion by Michael Dell and private equity firm Silver Lake Partners. But Icahn's math doesn't exactly add up.
Here is the relevant section:
"Rather than engage in the Going Private Transaction, we propose that Dell announce MORE