Dell Postpones Vote on Buyout

Posted by at 3:23 pm on July 18, 2013

Dell postponed a shareholder vote on CEO Michael Dell’s $24.4 billion buyout offer, after he won 11th-hour backing from several large investors but still fell short of enough votes to seal the deal.

billionaire investor Carl Icahn, who has amassed an 8.7 percent stake in Dell, is leading a charge with major shareholder Southeastern Asset Management against the buyout with an offer of his own. He and others say Michael Dell’s deal undervalues the firm.

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