PC MAKER Dell is set to put its bid to take the firm private to a vote on Thursday, allowing its shareholders to decide whether to sell to the CEO Michael Dell led consortium or hold out for a better offer from rival investor Carl Icahn.
There have been reports this week that Dell plans to postpone the vote due to concerns that the outcome is too close to call. However, Dell confirmed to The INQUIRER that at this time the shareholder meeting and vote are still due to take place on Thursday 18 July, as planned.
According to Reuters, quoting the usual source familiar with the matter, Dell could delay the vote on taking the company private at a cost of $24.4bn, as the company's special board committee currently sees the outcome as too close to call.
However, even if a delay does occur, which has yet to be indicated by Dell, other Reuters sources said that the firm's CEO and buyout partner Silver Lake Partners would still not increase the $13.65 per share offer.
Dell's latest statement on the proposed buyout posted last week maintained that the share price is an attractive deal for shareholders.
"We are pleased to let you know that all three of the nation’s leading independent proxy advisory firms have issued clear and unequivocal recommendations to Dell shareholders to vote 'FOR' the proposed go-private transaction," the Dell board's special committee noted.
"Institutional Shareholder Services, Glass Lewis, and Egan-Jones - expert organisations that regularly advise sophisticated shareholders on corporate proxy matters - have each conducted their own independent reviews and recently concluded, as we have, that a sale of Dell for $13.65 per share in cash will provide certainty of value at a substantial premium while transferring substantial risk to the buyer group, and is therefore in the best interests of shareholders."
Corporate investor Carl Icahn has been a vocal opponent of the Michael Dell backed offer, however, arguing that the share price offered undervalues the company. µ
It's not an event, it's an 'app-ening
Chromebooks just got sexy, baby
Arrangement with Bitpay means crypto-currency can be used for online games
Did someone say Frankenstein's monster?