Major Dell stockholder derides company's proposed $24.4 billion sale as 'woefully inadequate'

Send to a friend

Send this article to a friend.

ROUND ROCK, Texas - Dell's largest stockholder, aside from the struggling personal computer maker's CEO and founder, is trying to thwart the company's plans to sell itself for $24.4 billion.

The opposition mounted Friday by Southeastern Asset Management Inc. could complicate Dell Inc.'s efforts to end its 25-year history as a public company. Southeastern Asset owns an 8.5 per cent stake in Dell.

Under a plan announced earlier this week, Dell will pay existing stockholders $13.65 per share. The deal would leave the Round Rock, Texas, company under the control of founder and CEO Michael Dell and investment firm Silver Lake.

In a letter to Dell's board, Southeastern CEO O. Mason Hawkins dismissed Dell's proposed sale price as "woefully inadequate," contending that the company is worth at least $24 per share.

Dell declined to comment.

Organizations: Southeastern Asset Management Inc.

Geographic location: ROUND ROCK, Texas

  • 1
  • 2
  • 3
  • 4
  • 5

Thanks for voting!

Top of page

Comments

Comments