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1.75 Bln Shares To Set Dell’s Future

posted 31 May 2013, 09:48 by Mpelembe Admin   [ updated 31 May 2013, 09:49 ]

 

Reuters Business  Report - Your Daily Digit today is 1.75 billion….

That's the amount of Dell's outstanding shares. Their owners will sew up Dell's future at a special meeting on July 18th.

They're already getting some ideas on how to vote.

One just came from Dell's board.

The board now recommends shareholders support the $24.4 billion buyout offer led by founder and chief executive Michael Dell.

Why?

The board members say it's the best alternative available, and, as they put it, in a challenging business environment, it offers certainty and a very material premium over pre-announcement trading prices.

But Dell's shareholders have another option.

Earlier this month, Dell's largest independent shareholder, activist investor Carl Icahn launched a $21 billion counter offer that would allow shareholders to keep their stakes in the company.

Icahn is not expected to go quietly -he already warned that if his proposal was rejected -he would urge shareholders to reject Michael Dell's offer.


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