Dell: Panel warns of ‘risk’ if buyout plan fails
Michael Dell was being pressured to raise his offer to be able to win backing from a majority of shareholders.
NEW YORK:
The special committee set up by Dell to evaluate options for the troubled computer giant warned Friday of “substantial downside risk” if shareholders reject a buyout plan led by founder Michael Dell. The filing comes ahead of a July 18 shareholder vote on a $24.4 billion buyout plan, which would take Dell private and allow Michael Dell to restructure the company without the pressures of a publicly traded firm. But some news reports said Michael Dell was being pressured to raise his offer to be able to win backing from a majority of shareholders. Corporate raider Carl Icahn has called the buyout plan a “giveaway” and is pressing for an alternative plan that could keep Dell public.
Published in The Express Tribune, July 7th, 2013.
The special committee set up by Dell to evaluate options for the troubled computer giant warned Friday of “substantial downside risk” if shareholders reject a buyout plan led by founder Michael Dell. The filing comes ahead of a July 18 shareholder vote on a $24.4 billion buyout plan, which would take Dell private and allow Michael Dell to restructure the company without the pressures of a publicly traded firm. But some news reports said Michael Dell was being pressured to raise his offer to be able to win backing from a majority of shareholders. Corporate raider Carl Icahn has called the buyout plan a “giveaway” and is pressing for an alternative plan that could keep Dell public.
Published in The Express Tribune, July 7th, 2013.