Feeds

Big Mike heading for victory as SAM dumps HALF its Dell shares

Carl Icahn's just put $1.5bn into Apple... have they lost interest in Mickey D's firm?

Top three mobile application threats

One of Dell’s biggest shareholders has dumped almost half its holdings in Big Mike’s computer outfit.

Southeastern Asset Management is reported to have sold 41 per cent of its Dell stock, reducing the value of its holdings to $949m.

Southeastern had held 8.4 per cent of Dell, making it the biggest stockholder apart from Michael Dell.

There’s no word on why Southeastern sold, but the news should be seen as significant.

Southeastern had been teaming up with Carl Icahn - who has just poured $1.5bn into Apple - to buy out Michael Dell and keep the PC and server company public.

The fund had opposed the proposed $24.4bn takeover of Dell by the company's founder, Silver Lake Partners, Microsoft and a slew of banks.

By early July, Team Dell had made it clear they were not going to offer shareholders any more money to take the company private.

They’d proposed $13.65 per share, while Icahn and Southeastern had offered $14. Shareholders were expected to vote on the deal on 18 July, which was then postponed to 24 July and finally set for 12 September, the fourth time the vote has been scheduled.

Icahn has since sued the Dell board for changing voting requirements.

Southeastern is a shrewd mover and selling half the stock suggests the company either knows something or is taking a fatalist line about its prospects for success.

It was Southeastern that upped its stake in Sun Microsystems to 21.6 per cent in October 2008, and then leveraged its position to get its own reps on the board.

From that point, Southeastern manoeuvred to get Sun sold – to Oracle.

At the time, Southeastern said it had wanted to have Sun's "true economic value realised". The end result was a sale to Oracle in 2010 for $7.4bn.

With Southeastern relinquishing half its leverage in Dell, it would seem the investor senses its Dell bid can go no further. ®

Application security programs and practises

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.