Dell Founder Vows to Stay On
Dell Inc. Chief Executive Michael Dell, pushing to save his buyout heading into another frantic week, said that even if the deal were to fail he would stay at the company he founded, though he wouldn’t sell assets or commit to any leveraged recapitalization as some shareholders have advocated.
Those comments, in an interview with the Wall Street Journal over email, come as Mr. Dell attempts to persuade the special committee of his own board to accept an offer of a price bump and a rule change he and his private-equity partner made last week. The committee has until Aug. 2, under a deadline the buyout group already pushed back, to decide.
The comments could signal to shareholders planning to vote against the deal that unless those shareholders also support a proxy fight from activist shareholder Carl Icahn, they may not get any payout outside of the buyout deal.