Skip to main content

More major Dell stakeholders say no to go-private deal

posted onJuly 18, 2013
by l33tdawg

As the vote approaches on Michael Dell's joint offer with Silver Lake Partners to take Dell, Inc private, two more large stockholders have lined up to cast their ballots against the deal. The Wall Street Journal reports that Vanguard Group, State Street Corp, and BlackRock Inc, which together own 11.5 percent of Dell Inc's stock, will oppose the Dell/Silver Lake offer of $13.65 a share.

If the three investment companies join the existing opponents to the deal, that will bring the shares opposing Michael Dell's plans to take the company private to nearly 30 percent. To overcome that voting block, Dell will need those who hold at least 42 percent of the remainder of the company's stock to vote with him. Southeastern Management, which owns 8.5 percent of Dell, is another major institutional shareholder opposing the deal.

Source

Tags

Dell Industry News

You May Also Like

Recent News

Tuesday, November 19th

Friday, November 8th

Friday, November 1st

Tuesday, July 9th

Wednesday, July 3rd

Friday, June 28th

Thursday, June 27th

Thursday, June 13th

Wednesday, June 12th

Tuesday, June 11th