Feeds

Shareholders' advisors back Big Mike's deal to take Dell private

Companies reckon the price is right and it takes PC pressures off the firm

Choosing a cloud hosting partner with confidence

Dell continues to insist that founder Big Mike's offer to take the firm private is what's best for it, announcing today that proxy advisory firms Institutional Shareholder Services (ISS), Glass Lewis and Egan Jones are all recommending it.

“We are pleased that all three of the nation’s leading proxy advisory firms have reiterated their support for the proposed sale transaction," the special committee said in a statement. "Each has conducted an independent review of the amended merger agreement and all of its terms and concluded, as has the Special Committee, that a sale of Dell for $13.88 per share in cash serves the best interests of Dell shareholders.”

The special committee, set up by the board to investigate Michael Dell's bid to pull the company off the open market, said last month that it liked the newly raised offer of $13.75 per share and a special dividend of 13 cents, despite the ongoing battle from activist shareholder Carl Icahn and his partner Southeastern Asset Management (SAM) to stop the deal.

Dell said that ISS was telling shareholders to go for the deal at the vote on 12 September because it was a good deal on the PC-maker's share price.

“A vote for this transaction is warranted as it offers a meaningful premium to the unaffected share price, provides certainty of value, and transfers the risk of the deteriorating PC business and the company’s on-going business transformation to the buyout group, while continuing to condition approval of the management buyout on the support of disinterested shareholders,” the advisory firm said.

The tide seems to be turning in Big Mike's direction, with Icahn turning his attention to his stake in Apple and SAM reportedly ditching almost half of its stock in Dell ahead of the shareholder vote. ®

Internet Security Threat Report 2014

More from The Register

next story
Bono apologises for iTunes album dump
Megalomania, generosity and FEAR of irrelevance drove group to Apple deal
HBO shocks US pay TV world: We're down with OTT. Netflix says, 'Gee'
This affects every broadcaster, every cable guy
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
SCREW YOU, EU: BBC rolls out Right To Remember as Google deletes links
Not even Google can withstand the power of Auntie
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
America's super-secret X-37B plane returns to Earth after nearly TWO YEARS aloft
674 days in space for US Air Force's mystery orbital vehicle
10 Top Tips For PRs Considering Whether To Phone The Register
You'll Read These And LOL Even Though They're Serious
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.