» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 128 | NO. 70 | Wednesday, April 10, 2013

Southeastern Asset Management Favors Recent Dell Buyout Offers

AP

Print | Front Page | Email this story | Comments ()

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 This material may not be published, broadcast, rewritten or redistributed.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 31 327 17,870
MORTGAGES 49 409 20,835
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 129 800 36,616
BANKRUPTCIES 51 243 11,925
BUSINESS LICENSES 21 117 5,677
UTILITY CONNECTIONS 41 215 12,248
MARRIAGE LICENSES 29 121 4,478

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.