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Buyout consortium holding firm on Dell offer: sources
February 8, 2013 / 10:34 PM / 5 years ago

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.

A man wipes the logo of the Dell IT firm at the CeBIT exhibition centre in Hannover February 28, 2010. REUTERS/Thomas Peter/Files

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

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