Dell Defends Deal: “Offers an Attractive and Immediate Premium”
The board of Dell Inc., facing criticism from some of its biggest holders, says it looked at other options before deciding to take the all-cash offer from founder, Chairman and CEO Michael Dell and his private equity partners.
Late Friday, the largest independent shareholder in Dell, Southeastern Asset Management, laid out its objections to the deal and said it believes shares could be worth $10 more than per share. While no other shareholder comes close to Southeastern’s 8.5 percent stake, other smaller firms have joined the fight, including Pzena Investment Management, which has less than 1 percent.
