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Aug 2, 2013

Dell shareholders convene a third time as buyout battle escalates

ROUND ROCK, TEXAS/SAN FRANCISCO (Reuters) – Dell Inc (DELL.O: Quote, Profile, Research, Stock Buzz) shareholders convene for a third time on Friday to vote on CEO Michael Dell’s $24.4 billion buyout, helping decide the fate of the No. 3 PC maker after months of dueling with Carl Icahn and other unhappy investors.

The meeting in Round Rock, Texas, comes after two previous adjournments, when the company wasn’t certain of gaining enough votes for what would be the largest buyout since the financial crisis.

Aug 1, 2013

Icahn sues Dell in latest attempt to foil buyout

By Poornima Gupta

(Reuters) – Activist investor Carl Icahn sued Dell Inc and its board on Thursday, his latest attempt to derail a $24.4 billion buyout bid by the computer maker’s founder and CEO Michael Dell.

Icahn asked a court to block rule changes Michael Dell has proposed ahead of a shareholder vote set for Friday. Icahn and his affiliates also want the court to stop Dell from changing the record date by which shareholders must have purchased their shares in order to vote.

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    • 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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