Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Dell Adjourns Special Meeting Of Stockholders Until July 24

Personal computer maker Dell Inc. (DELL: Quote) 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.

Register
To receive FREE breaking news email alerts for Dell Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
After initially showing a lack of direction, stocks have moved mostly higher over the course of the trading day on Friday. With the gains on the day, the markets are extending the upward trend seen over the past several sessions. In another troubling sign for Democrats, the results of a Gallup poll released on Friday show that Tea Party Republicans are much more motivated to vote in the upcoming midterm elections than other Americans. The poll found that 73 percent of Tea Party Republicans are "extremely" or "very" motivated to vote in this year's elections. While the Commerce Department released a report on Friday showing a modest increase in new home sales in the U.S. in the month of September, the uptick came from a significantly downwardly revised level in August.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.