Wall Street Beat: Icahn battle with Dell over buyout going down to the wire

Shareholder vote is set for July 18

By , IDG News Service |  Hardware

There is also no assurance that any new management that Icahn brings in would perform better than Michael Dell.

Three shareholder advisory groups this week, including Institutional Shareholder Services, advised shareholders to vote for the Dell buyout plan. The plan assures shareholders of a definitive value for their holdings and eliminates risks associated with Icahn's proposal, they said.

"ISS recommends clients vote FOR this transaction, which offers a 25.5% 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," ISS said Monday.

The other advisory groups recommending the Dell plan were Egan-Jones Proxy Services and Glass, Lewis & Co.

Over the past month, reports have surfaced indicating that Silver Lake was getting second thoughts about the deal, as the PC market worsens. However, Dell officials said Friday the vote is set to go ahead as planned. Dell had no comment on Icahn's new offer Friday.

Dell shares closed Friday at $13.32, down by $0.03 for the day, on a generally up day for the markets.

Join us:
Facebook

Twitter

Pinterest

Tumblr

LinkedIn

Google+

Spotlight on ...
Online Training

    Upgrade your skills and earn higher pay

    Readers to share their best tips for maximizing training dollars and getting the most out self-directed learning. Here’s what they said.

     

    Learn more

Answers - Powered by ITworld

ITworld Answers helps you solve problems and share expertise. Ask a question or take a crack at answering the new questions below.

Join us:
Facebook

Twitter

Pinterest

Tumblr

LinkedIn

Google+

Ask a Question