Southeastern Asset Management, which claims to hold 8.5% of Dell shares.
An investment firm claiming to be the largest outside shareholder in Dell said Friday the proposal to take the firm private for $24.4 billion “grossly undervalues” the computer maker.
Southeastern Asset Management, which claims to hold 8.5% of Dell shares on behalf of clients, said it will fight the proposal and noted its objections to the deal in a letter to the board of directors, also filed with US securities regulators.
Dell unveiled its plan to go private on Tuesday in a $24.4 billion deal, giving founder Michael Dell a chance to reshape the former number one PC maker away from the spotlight of Wall Street. The company said it had signed “a definitive” agreement to give shareholders $13.65 per share in cash, at a 25% premium over share price on January 11.
Published in The Express Tribune, February 10th, 2013.
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