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The two shareholders also demanded that CommonWealth halt a stock offering of 27 million shares.
But the two shareholders - Carl C. Icahn and Seneca Capital - said that they were unimpressed with the improved bid.
"That's the agreement between the two shareholders and the board and that's how everyone wants it to be.
The moves by the two shareholders — the biggest holders of Dell stock outside of Mr. Dell himself — signal growing discontent with the transaction.
One of the two shareholders represented was the local council under a new mayor, an Oviedo fan called Agustín Iglesias Caunedo, who had been working for a solution.
The company also has an option to solicit another $500 million in common stock from the two shareholders if they need it to cushion their debt load.
Similar(43)
The eight shareholders are all kibbutzim and collective farms in the Golan Heights.
HLS Inc. generates about $10 million in annual profits; it has traditionally paid out all profits to the three shareholders every year.
After the offering, the three shareholders would have voting control over about 88 percent of the newly public company, according to the prospectus.
The eight shareholders who own the airport "made a decision that they would like to sell it either as an airport or a residential subdivision," he said.
A restructuring could result in the three shareholders reducing their equity stake in a debt-for-equity swap with lenders in return for writing off some loans.
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CEO of Professional Science Editing for Scientists @ prosciediting.com