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

Website security in corporate America

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. ®

Reducing the cost and complexity of web vulnerability management

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Israeli spies rebel over mass-snooping on innocent Palestinians
'Disciplinary treatment will be sharp and clear' vow spy-chiefs
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
OECD lashes out at tax avoiding globocorps' location-flipping antics
You hear that, Amazon, Google, Microsoft et al?
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
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.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.