Featured Articles

AMD sheds light on stacked DRAM APUs

AMD sheds light on stacked DRAM APUs

AMD is fast tracking stacked DRAM deployment and a new presentation leaked by the company  points to APUs with stacked DRAM,…

More...
Nvidia officially launches the 8-inch Shield Tablet

Nvidia officially launches the 8-inch Shield Tablet

As expected and reported earlier, Nvidia has now officially announced its newest Shield device, the new 8-inch Shield Tablet. While the…

More...
Intel launches new mobile Haswell and Bay Trail parts

Intel launches new mobile Haswell and Bay Trail parts

Intel has introduced seven new Haswell mobile parts and four Bay Trail SoC chips, but most of them are merely clock…

More...
Aerocool Dead Silence reviewed

Aerocool Dead Silence reviewed

Aerocool is well known for its gamer cases with aggressive styling. However, the Dead Silence chassis offers consumers a new choice,…

More...
AMD A8-7600 Kaveri APU reviewed

AMD A8-7600 Kaveri APU reviewed

Today we'll take a closer look at AMD's A8-7600 APU Kaveri APU, more specifically we'll examine the GPU performance you can…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Friday, 15 February 2013 12:48

Dell admits cutting the value of his stock

Written by Nick Farrell



Two percent below what he offered shareholders

Michael Dell has admitted that in a bid to clinch a $24.4 billion deal to take the Dell private, he agreed to value his 16 percent stake in the company at about 2 percent below the price offered to other shareholders.

The founder told his board in August of his intention to remove the struggling company from Wall Street's scrutiny. According to official filings, Dell agreed that his equity stake would be valued at $13.36 a share, versus the $13.65 offered eventually. Dell revealed that the private equity firm raised its proposed offer price at least once during ensuing discussions.

"To facilitate a price increase by Silver Lake, Dell and related persons agreed that their shares to be rolled over in the proposed transaction would be valued only at $13.36 per share as opposed to the $13.65 price offered to the company's unaffiliated stockholders," the filing read.

The proposed leveraged buyout, the largest private-equity backed deal since the financial crisis, is being led by Michael Dell and Silver Lake, and pits Dell's board against two shareholders, Southeastern Asset Management and T. Rowe Price. The deal is up for a shareholder vote around June or July and it will need a majority of shareholders, excluding Michael Dell, to be approved.

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments