Carl Icahn ends takeover battle for Dell Inc

Billionaire investor Carl Icahn is ending his bitter takeover fight for Dell Inc, a few days before shareholders are scheduled to consider the latest buyout offer from the struggling computer maker's founder, Michael Dell.

In a letter to the shareholders on Monday, Icahn said he still opposes Michael Dell's bid to take the company private but has determined it would be almost impossible to defeat it in a vote scheduled for Thursday.

Michael Dell's $24.8 billion bid to take his company private includes an offer of $13.75 per share plus a 13-cent dividend. Dell raised that bid last month after previous offers drew strong criticism from Icahn and other major Dell Inc investors.

Icahn wanted to oust Dell's board and pursue a complex alternative to Michael Dell's bid that Icahn has said would be worth at least $15.50 per share.

The investor and another major Dell shareholder, Southeastern Asset Management, said they won't pursue additional efforts to defeat the founder's bid.