Dell Urges Shareholders To Approve Silver Lake Deal

May 31 2013 | 12:19pm ET

Dell Inc. has set a vote on the $24.4 billion buyout led by its founder and Silver Lake Partners, urging shareholders to approve it.

Dell said that the sale to Michael Dell and Silver Lake "is the best possible alternative" and superior to the only other one on the table, a leveraged recapitalization proposed by Carl Icahn and Southeastern Asset Management. Investors will vote at a July 18 meeting; it requires a simple majority of shareholders to win approval.

Dell himself owns 15.6% of the computer-maker. Icahn and Southeastern control about 11.5%.

Dell said that the buyout "shifts very substantial risks to the buying group," as opposed to Icahn's plan, which would leave investors to bear those risks.

Icahn did not immediately comment on the move. Dell has in recent weeks sought more information from him. Icahn has threatened both litigation and a proxy battle if he does not get his way.


In Depth

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Artivest Announces Funding Round Led by KKR & Co.

May 4 2015 | 9:56am ET

Artivest, a startup that provides individual investors with access to private equity...

Guest Contributor

Starting a ‘40 Act Fund Family? Don’t Forget Your Board

Apr 30 2015 | 7:18am ET

The convergence of the hedge fund and mutual fund worlds continues unabated, as...

 

Editor's Note