Personal computer maker Dell Inc. (DELL) announced Thursday that a Special Meeting of Stockholders was convened and adjourned till July 24 to provide additional time to solicit proxies from Dell stockholders. No vote was taken on the proposed transaction prior to the adjournment and the record date for stockholders entitled to vote remains June 3, the company noted.
The Special Meeting will reconvene on July 24, 2013 at 5 p.m. Central Daylight Time at the Dell Round Rock campus, Building No. 2, Houston-Dallas conference room, 501 Dell Way, Round Rock, Texas 78682.
Tuesday, Special Committee of the Board of Dell recommended its shareholders to reject Carl Icahn's proposal for a $15.6 billion self-tender by the company at $14 per share. The committee believes that it is unwise to layer substantial financial risk on a company already facing significant challenges from competition and from the rapid pace of technological change.
Earlier this month, reports said that Michael Dell, founder and chief executive officer of Dell Inc. and private equity firm Silver Lake Partners decided not to increase their $24.4 billion offer to take the company private.
At May-end, Dell's special committee had unanimously recommended that stockholders vote to approve the company's merger deal with Michael Dell and Silver Lake, at a special meeting.
DELL is currently trading at $13.34, down 0.07 percent.
by RTT Staff Writer
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