Michael Dell’s attempt to take his company private took a bit of a body blow. You might recall that Dell had upped his offer to shareholders and the vote on that was to take place in a few days. However, news.com is reporting that the special committee looked at the offer and said no to it:
In a letter sent to Michael Dell on Tuesday and released today, Dell’s Special Committee of the Board of Directors, which is tasked with evaluating all buyout offers, said that it’s “not prepared to accept” the proposal Dell and his partners brought before it last week. The committee didn’t say why it’s unwilling to accept the proposal at this time.
The upshot is that the vote on this that was scheduled for August 2nd is still going ahead. Strange, but true. Also worth asking, does it put arch-rival Carl Ichan in the drivers seat?
That I suspect is going to be a very interesting vote on Friday. Expect something “interesting” to happen.
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Dell Special Committee Says No To Increased Offer
Michael Dell’s attempt to take his company private took a bit of a body blow. You might recall that Dell had upped his offer to shareholders and the vote on that was to take place in a few days. However, news.com is reporting that the special committee looked at the offer and said no to it:
In a letter sent to Michael Dell on Tuesday and released today, Dell’s Special Committee of the Board of Directors, which is tasked with evaluating all buyout offers, said that it’s “not prepared to accept” the proposal Dell and his partners brought before it last week. The committee didn’t say why it’s unwilling to accept the proposal at this time.
The upshot is that the vote on this that was scheduled for August 2nd is still going ahead. Strange, but true. Also worth asking, does it put arch-rival Carl Ichan in the drivers seat?
That I suspect is going to be a very interesting vote on Friday. Expect something “interesting” to happen.
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This entry was posted on July 31, 2013 at 11:54 am and is filed under Commentary with tags Dell. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.