The struggling PC maker struck a deal last week with its chief executive officer, Michael Dell, private equity firm Silver Lake and Microsoft Corp to go private in a $24.4 billion deal. There had been some concerns that the board was so focused on Michael Dell’s bid, that they did not consider doing anything else.
Now the outfit has issued a statement saying that it considered many strategic options before opting to go private. Dell's largest independent shareholder, Southeastern Asset Management, and three other investors have objected to the deal, saying the company is worth a lot more than the agreed upon $13.65 per share offer.
However Dell said that it had hired a management consultant to help assess its "strategic position" and concluded that the proposed all-cash deal was in the best interests of stockholders.