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Jul 24, 2013

Dell founder ups takeover bid based on voting rule change

By Poornima Gupta, Soyoung Kim and Greg Roumeliotis

(Reuters) – Dell Inc founder Michael Dell on Wednesday raised his $24.4 billion bid by $150 million but the sweetened offer is contingent on a key change to the shareholder voting rules that will make it easier for him to take the No.3 personal computer maker private.

The sweetened $13.75 per share bid by Michael Dell and private equity firm Silver Lake came hours before a rescheduled vote on the buyout proposal, which has drawn strong opposition from major investors including billionaire Carl Icahn and Southeastern Asset Management.

Jul 24, 2013
Jul 24, 2013
Jul 24, 2013

Dell shareholders convene again to vote on founder’s buyout

ROUND ROCK, Texas, July 24 (Reuters) – Dell Inc
shareholders converge on Texas on Wednesday to vote on CEO
Michael Dell’s $24.4 billion buyout offer for the company after
a previous meeting was pushed back a week in the hope of
convincing dubious investors to accept the deal.

A meeting called last week at Dell’s headquarters on the
outskirts of Austin was adjourned within minutes after the
company founder and his private equity partner, Silver Lake,
failed to secure enough votes to take the No.3 PC maker private.

Jul 24, 2013

Apple wobbles in China as rivals offer more, for less

SAN FRANCISCO/HONG KONG, July 24 (Reuters) – A sharp drop in
Apple Inc’s China revenue in April-June underscores the
challenges it faces in its second-largest market as the
technology gap with cheaper local rivals narrows and as Samsung
Electronics keeps up a steady stream of new models
across all price ranges.

While investors marked up Apple shares as the company sold
more of its iPhones than expected, the stock rally may prove
short-lived as demand for its products fades in China. Analysts
predict Apple will lose market share in the world’s leading
smartphone sector.

Jul 24, 2013

Dell shareholders convene again to vote on founder’s buyout offer

ROUND ROCK, Texas (Reuters) – Dell Inc shareholders converge on Texas on Wednesday to vote on CEO Michael Dell’s $24.4 billion buyout offer for the company after a previous meeting was pushed back a week in the hope of convincing dubious investors to accept the deal.

A meeting called last week at Dell’s headquarters on the outskirts of Austin was adjourned within minutes after the company founder and his private equity partner, Silver Lake, failed to secure enough votes to take the No.3 PC maker private.

Jul 24, 2013

Crunch time for Michael Dell’s buyout deal

ROUND ROCK, Texas, July 24 (Reuters) – Dell Inc
shareholders converge again in Texas on Wednesday to vote on CEO
Michael Dell’s $24.4 billion buyout offer, after a previous
meeting was pushed back a week to buy time to convert investors
on the fence about the landmark deal.

A meeting was called last week at Dell’s headquarters on the
outskirts of Austin, but adjourned within minutes. The company
founder and partners Silver Lake had failed to secure enough
votes to seal the largest buyout since the financial crisis,
which would end by taking the No. 3 PC maker private.

    • About Poornima

      "Poornima Gupta writes about technology out of San Francisco, covering consumer and enterprise device makers Apple, HP and Dell. She previously spent five years in Detroit covering the crisis-ridden U.S. automotive sector that resulted in two of the biggest bankruptcy filings in the industrial world. She won a SABEW award for reporting on the failed merger between GM and Chrysler, and their negotiations with the federal government."
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