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Tuesday, April 13, 2021

Dell seeks deal approval again

Dell Inc. headquarters. File photo  

ROUND ROCK, Texas (AP) — Now comes the moment of truth for the future of Dell Inc.

The Dell board hopes it has persuaded enough shareholders to back a $24.4 billion sale to a group led by CEO Michael Dell and buyout firm Silver Lake Partners.

Dell shareholders meet Wednesday evening for a special meeting to vote on the deal.

Billionaire Carl Icahn and investment firm Southeastern Asset Management have campaigned to defeat that deal. They say it’s a bid by founder Michael Dell to seize control of the company at a sharp discount to its long-term value. Icahn and Southeastern have offered a more complicated alternative for the slumping PC maker, but they first need to block the deal with Michael Dell and replace the board.

 

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Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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