Post date: May 31, 2013 4:48:40 PM
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.