Michael Dell urges shareholders to support his buyout bid

Advertisement
By Reuters | Updated: 24 June 2013 09:48 IST
Dell's billionaire founder Michael Dell said he would oppose any leveraged recapitalization of the company and called on stakeholders to vote in favor of his buyout offer, ahead of a shareholder meeting in July.

Dell argued his case in a presentation filed with the US Securities and Exchange Commission on Friday, saying that keeping any part of the company public while it transformed itself would hurt Dell's stock price.

That in turn would threaten customer perception and make it more difficult to keep employees, he said.

If his buyout proposal fails to sway shareholders, he reiterated that he will remain with the company but said he "will also oppose the kind of imprudent leveraged recapitalization that has been suggested by certain other parties."

Activist shareholder Carl Icahn, who says Dell's offer undervalues the company, on Tuesday promised shareholders that the company would buy back up to $16 billion of stock if they joined his campaign to stop the computer maker from going private.

Dell could fund a tender offer for its own shares with debt financing, Icahn said.

Michael Dell and private equity firm Silver Lake want shareholders to accept a $24.4 billion bid, aimed at taking the company private while it transform itself into a technology consultant for large companies, along the lines of International Business Machines.

(Also see: Dell takeover battle: All you need to know)

© Thomson Reuters 2013

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.

Further reading: Dell, Laptops, Michael Dell, PCs
Advertisement

Related Stories

Popular Mobile Brands
  1. Motorola Edge 70 Pro+ With 6,500mAh Battery Debuts in India at This Price
  2. Marvel's Wolverine Gets Gameplay Trailer at State of Play, Pre-Orders Go Live
  3. Xiaomi 18, 18 Pro and 18 Pro Max Specifications Leaked Ahead of Debut
  4. Lumio Launches 55-Inch Variants of Vision 9 (2026), Vision 7 (2026) in India
  5. Realme P4R 5G India Launch Date, Design and Key Specifications Revealed
  6. Xiaomi 17T Launches in India With Leica-Tuned Triple Rear Cameras
  7. Vivo X500 Pro Max Display and Battery Details Revealed in New Leak
  8. RTX Spark-Powered Laptops Could Cost a Lot More Than Regular AI PCs
  1. Amazfit Balance 3, Balance Ultra Launched With Hyrox Tools, Up to 30-Day Battery Life: Price, Features
  2. Xiaomi 17T Launched in India With Leica-Tuned Triple Rear Cameras, Dimensity 8500-Ultra SoC: Price, Specifications
  3. Xiaomi 18 Pro Max Leak Reveals Key Specifications Including Dual 200-Megapixel Rear Camera Setup
  4. Onimusha: Way of the Sword Launches September 25, Playable Demo and Pre-Orders Now Live
  5. Motorola Edge 70 Pro+ Launched in India With 6,500mAh Battery, 50-Megapixel Telephoto Camera: Price, Features
  6. Dashlane Password Manager Reveals Hackers Stole Some Encrypted Vaults Using Brute-Force Attacks
  7. Apple Doubles MacBook Neo Output as Budget Laptop Gains Popularity, Analyst Says
  8. Apple Reportedly Agrees to Hand Over India-Specific Financial Data to CCI in Years-Long Antitrust Case
  9. Apple Confirms macOS 27 Will End Support for Intel Macs Ahead of WWDC 2026
  10. Instagram Begins Warning Users Affected by Meta AI Hack That Enabled Account Takeovers
Download Our Apps
Available in Hindi
© Copyright Red Pixels Ventures Limited 2026. All rights reserved.