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Dell says $24.4 billion private takeover deal was the best available option

Dell says $24.4 billion private takeover deal was the best available option

By Reuters | Updated: 11 February 2013 19:14 IST

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Dell Inc had considered many strategic options before opting to go private, the company said in a regulatory filing.

The struggling PC maker struck a deal last week with its chief executive officer, Michael Dell, private equity firm Silver Lake and Microsoft Corp to go private in a $24.4 billion deal.

Dell's largest independent shareholder, Southeastern Asset Management Inc, and three other investors have objected to the deal, saying the company is worth a lot more than the agreed upon $13.65 per share offer, Reuters reported on Friday.

The company said on Monday it had retained a management consultant to help assess its "strategic position" and concluded that the proposed all-cash deal was in the best interests of stockholders.

Dell said the statement was in response to "certain inquiries" but did not elaborate on the nature of the queries.

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Further reading: Dell, Dell PCs, Microsoft, Silver Lake