Icahn Says 13 Cent Increase in Dell (DELL) Offer Insulting
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Southeastern Sees No New Value in Revised Michael Dell/ Silver Lake Bid (DELL)
August 2, 2013 2:41 PM EDTSoutheastern Asset Management today issued the following statement in response to the announcement by the Special Committee of the Board of Dell Inc. (Nasdaq: DELL) that it has accepted a revised Michael Dell / Silver Lake offer:
We are extremely disappointed that the Special Committee has agreed to the revised merger agreement. The justification being made for this decision is the characterization of special dividends to be paid to Dell stockholders as "increased value." In fact, the Special Committee has traded away what was perhaps the most important "unwaivable" stockholder protection included in the... More
Dell (DELL) Special Meeting Begins, Ends
August 2, 2013 10:04 AM EDTDell, Inc. (NASDAQ: DELL) general counsel Layy Ru begins and ends Dell's special meeting.... More
Michael Dell, Silver Lake Increase Bid for Dell (DELL); Includes 13c/Share Special Dividend
August 2, 2013 9:21 AM EDTThe Special Committee of the Board of Dell Inc. (NASDAQ: DELL) today announced that it has entered into a revised definitive merger agreement with Michael Dell and Silver Lake Partners that increases the aggregate value to unaffiliated shareholders by at least $350 million, as follows:
* Increases the purchase price to $13.75 per share from $13.65 per share
* Provides for payment of a special dividend at or before closing of $0.13 per share
* Guarantees that the third quarter dividend of $0.08 per share will be paid at or before closing
The effect of the... More
