Posts tagged “Dell”
Dell founder and Chief Executive Officer Michael Dell has won shareholder approval for a planned $24.9 billion buyout, capping a seven-month standoff with investors and gaining free rein to attempt a turnaround of the struggling personal-computer maker outside the glare of public markets.
Billionaire Carl Icahn gives up his fight to control Dell, saying he continues to oppose founder Michael Dell's $24.9 billion plan to take the company private because it undervalues the computer maker.
When it comes ti keeping profits away from the U.S. Taxman, Cisco and Apple take most of the criticism. But a Bloomberg analysis finds that IBM, which recently laid off thousands of North American workers, and Microsoft are actually keeping the most profits offshore.
Dell Inc. reported fiscal second- quarter sales that topped analysts' estimates ahead of a vote next month on its founder's bid for the computer maker, lending some credence to arguments that the company could recover without a leveraged buyout.
The billionaire investor disclosed in a regulatory filing late Monday that he's purchased an additional 4 million shares in Dell Inc. Icahn bought the shares Thursday, according to the filing, the same day he filed suit to block any delay in a shareholder vote over company control and a day before founder CEO Michael Dell boosted his bid to take the company private.
Dell shareholders will now get a chance to vote on the new Dell offer at a Sept. 12 special meeting.
In an interview with Bloomberg News, Dell founder Michael Dell defends his decision to try to take the PC and tech services firm private. "I am seeking to take Dell private because I think it's the right thing for the company," he says.
Dell has postponed a shareholder meeting until July 24, a signal that the company didn't have the votes to pass its proposed $24.4 billion sale to Chief Executive Officer Michael Dell and Silver Lake Management.
The run-up to the vote on Michael Dell's $24.4 billion proposal to acquire Dell has turned into a nail-biting game of chicken that has left Dell's side racing to lobby shareholders who consider the bid too low. Rather than ending with a victory dance for Dell, today may yield a decision to postpone the vote deadline to give him and private-equity firm Silver Lake Management LLC more time to convince investors of the merits of the leveraged buyout - or to simply increase the $13.65-per-share bid.
Shareholder advisory firm ISS recommends taking the certainty of a cash bid over the undertainty of billionaire Carl Icahn's plan to keep Dell public and boost value with a stock buyback.
A reshuffling at HP and a defection to Dell means Lenovo must battle the skills of those former executive team leaders in the battle for global PC dominance.
Activist investor Carl Icahn on Tuesday proposed a $16 billion share buyback in his latest effort to thwart Dell Inc. founder Michael Dell's effort to take the struggling computer maker private.