Dell's founder will likely receive the votes he needs to set the wheels in motion to take his company private. September 12, 2013 5:24 AM PDT (Credit: Dell) Michael Dell, alongside his fellow investor Silver Lake Partners, should secure the required votes on Thursday to take the company he co-founded private. Starting this morning, Dell's shareholders will be able to cast their ballots on whether they should sell off their shares to Michael Dell and watch the computer maker go private. The move to go private has been a long time coming with several roadblocks blocking the path along the way, but it appears Dell should get the votes he needs to secure the deal. Under the terms of the deal, Michael Dell and Silver Lake will commence a $25 billion buyout of all the remaining shares the investors do not own. The sum is made up of a sale price of $13.75 per share, as well as a 13-cent special dividend. Dell initially offered $13.65 per share. Related stories Dell shows 8-inch Venue tablet sporting Windows 8.1 Carl Icahn waves white flag in Dell battle Get a Dell multifunction laser printer for $99.99 Dell wants to give you choice, but choice is dead Dell takes big profit hit: Mobile customers look elsewhere The path to victory today seems guaranteed today because Dell's chief competitor, Carl Icahn, has backed out in his bid to take the company in another direction. Earlier this week, Icahn announced that he has abandoned plans to offer an alternative option to shareholders, saying that it would be "impossible" for him to win. Still, some of Dell's major shareholders are not too pleased with the proposal on the table, which could make Thursday's vote a bit more harrowing than some think. Some of Dell's biggest shareholders, including Icahn, Southeaster Asset Management, and T. Rowe Price all plan on voting down the deal. Dell's board, however, believes that the move is good for the company and has urged shareholders to vote "For" the transaction.
Dell's founder will likely receive the votes he needs to set the wheels in motion to take his company private.
(Credit: Dell)
Michael Dell, alongside his fellow investor Silver Lake Partners, should secure the required votes on Thursday to take the company he co-founded private.
Starting this morning, Dell's shareholders will be able to cast their ballots on whether they should sell off their shares to Michael Dell and watch the computer maker go private. The move to go private has been a long time coming with several roadblocks blocking the path along the way, but it appears Dell should get the votes he needs to secure the deal.
Under the terms of the deal, Michael Dell and Silver Lake will commence a $25 billion buyout of all the remaining shares the investors do not own. The sum is made up of a sale price of $13.75 per share, as well as a 13-cent special dividend. Dell initially offered $13.65 per share.
Related stories
- Dell shows 8-inch Venue tablet sporting Windows 8.1
- Carl Icahn waves white flag in Dell battle
- Get a Dell multifunction laser printer for $99.99
- Dell wants to give you choice, but choice is dead
- Dell takes big profit hit: Mobile customers look elsewhere
The path to victory today seems guaranteed today because Dell's chief competitor, Carl Icahn, has backed out in his bid to take the company in another direction. Earlier this week, Icahn announced that he has abandoned plans to offer an alternative option to shareholders, saying that it would be "impossible" for him to win.
Still, some of Dell's major shareholders are not too pleased with the proposal on the table, which could make Thursday's vote a bit more harrowing than some think. Some of Dell's biggest shareholders, including Icahn, Southeaster Asset Management, and T. Rowe Price all plan on voting down the deal.
Dell's board, however, believes that the move is good for the company and has urged shareholders to vote "For" the transaction.
