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Stock Market & Financial Investment News

News Breaks
February 8, 2013
15:01 EDTDELLSoutheastern Asset Management reports 8.5% stake in Dell
On February 5, Dell announced that it had signed a definitive merger agreement pursuant to which Michael Dell, together with Silver Lake Partners, intend to cash-out existing stockholders of the company at a per share price of $13.65 in a “going private” transaction. In response to such announcement, on February 8, Southeastern sent a letter to the Board of Directors of Dell expressing its extreme disappointment in the per share price of $13.65, which Southeastern believes grossly undervalues the company. The letter also expressed Southeastern’s current intent to vote against the proposed transaction as currently structured. The letter further stated that Southeastern currently intends to avail itself of all options at its disposal to oppose the proposed transaction, including but not limited to a proxy fight, litigation claims and any available Delaware statutory appraisal rights. Southeastern hereby reserves the right to discuss various alternatives.
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