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Dell Deal With Michael Dell Goes Live Shareholders to Vote In July

Michael Dell / Getty

Michael Dell / Getty

/ By Alan Gallindoss /

The New York Times reports today that Dell Inc. began its official campaign on Friday for the proposed $24.4 billion sale of itself to Michael S. Dell and the investment firm Silver Lake.  There remains continued opposition to the deal from two of its biggest investors, Southeastern Asset Management and the billionaire Carl C. Icahn.

Nevertheless after receiving final approval from the Securities and Exchange Commission the computer company filed its definitive proxy materials for the proposed transaction and set July 18th, 2013 as the date for a shareholder vote to approve it.

The company stressed in a letter to shareholders that its special committee had carefully reviewed all possible alternatives to the $13.65-a-share offer by Mr. Dell and Silver Lake and fought hard to get to that price.

The company wrote “Our analysis led us to conclude unanimously that a sale to the Michael Dell/Silver Lake group for $13.65 per share is the best alternative available — in a challenging business environment it offers certainty and a very material premium over pre-announcement trading prices.”

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