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VOL. 128 | NO. 70 | Wednesday, April 10, 2013

Southeastern Asset Management Favors Recent Dell Buyout Offers

AP

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MEMPHIS (AP) – A major Dell shareholder is urging the slumping personal computer maker's board to scrap a $24.4 billion deal to sell the company to a group including CEO Michael Dell and pursue two competing bids instead.

The request made in a Tuesday letter from Southeastern Asset Management isn't a surprise. The Memphis, Tenn., investment firm stated its opposition to Dell Inc.'s plan to sell itself to Michael Dell and Silver Lake Partners shortly after the terms were announced two months ago.

This is the first time that Southeastern has communicated with Dell's board since buyout specialist Blackstone Group and billionaire investor Carl Icahn submitted alternative proposals in late March.

Southeastern says both of those bids are better than the current deal. The firm owns an 8.4 percent stake in Dell.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 72 368 16,413
MORTGAGES 66 422 21,432
FORECLOSURE NOTICES 15 76 4,266
BUILDING PERMITS 176 877 39,378
BANKRUPTCIES 60 294 15,542
BUSINESS LICENSES 20 98 5,491
UTILITY CONNECTIONS 69 423 23,573
MARRIAGE LICENSES 17 95 5,035

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