After saying that the USD24.9 billion leveraged buyout by CEO Michael Dell and Silver Lake Partners 'greatly undervalues' the company, Carl Icahn is walking away from his efforts to get a higher price for his 8.9% shareholdings. 

The billionaire activist investor took to Twitter, saying he would be dropping his demand for an independent court appraisal of his 156.5 million Dell shares. Under Delaware law, shareholders can seek redress at the state chancery court for a fair value independent valuation during a takeover.

In a September 9 letter to fellow Dell shareholders, Icahn vowed to pursue appraisal rights even after he conceded to the Dell-Silver Lake leveraged buyout bid to gain control of the world's third largest PC maker. 

According to one former investment banker, Gary Lutin, "This is what Icahn has always been good at. Yelling and shaking and grabbing what he can." His reversal, according to Luftin, is one way the billionaire is able to generate short term gains. Luftin operates Shareholder Forum, which sponsors Dell Valuation Trust, a company that provides assistance to investors who seek Dell appraisal rights.