Buyout consortium holding firm on Dell offer: sources
NEW YORK (Reuters) - The buyout consortium led by the founder and chief executive of Dell Inc DELL.O does not intend to raise its offer for the world's No. 3 PC maker following a letter to the company's board of directors by shareholder Southeastern Asset Management, two people familiar with the matter said on Friday.
Michael Dell's consortium believes the offer price of $13.65 per share is a fare premium over where the company's shares traded following its latest published quarterly earnings after the market close on November 15, the people said. Dell's shares ended trading on November 16 at $8.86.
Dell and Silver Lake declined to comment.
Southeastern, Dell's largest independent shareholder, vowed on Friday to fight a $24.4 billion buyout of the Round Rock, Texas-based company, raising doubts about what would be the largest buyout since the start of the financial crisis.
(Reporting by Greg Roumeliotis in New York. Editing by Andre Grenon)
- Tweet this
- Share this
- Digg this
Trending On Reuters
Apple Inc has allowed some companies to test their apps on its yet-to-be-launched Apple Watch and adjust the tools to the watch's design, Bloomberg reported. Full Article
- For the 'unbanked', mobile money still has some way to go
- Amazon opens store on Alibaba's online marketplace Tmall
- Apple Pay stung in transactions using data stolen from retailers - WSJ
- Ride-sharing firm Uber pulling out of San Antonio over regulations
- U.S. third bitcoin auction spurs more demand with 34 bids
PM Modi to ramp up help for Indian Ocean nations to counter China influence Full Article
Knife-wielding attacker slashes face of U.S. ambassador in South Korea Full Article