Dell Special Committee Backs Michael Dell Buyout Bid 38
DavidGilbert99 writes "In a surprising move, the special committee set up to decide which buyout offer was best for Dell has chosen to back the bid from founder Michael Dell, which promises the shareholders a smaller payday and will see him remain the head of the company."
Their SEC filing on the matter indicates they are not confident that Icahn's counter-offer would actually provide the promised $12/share dividend.
seems reasonable (Score:5, Insightful)
In particular, the deal comes with a "majority of the unaffiliated" vote requirement, meaning that for it to go through, a majority of shareholders other than Michael Dell must vote in favor. If that happens, i.e. a majority of non-Michael-Dell shareholders think he should be allowed to purchase and continue running the company, then there is no reason it shouldn't happen.
Re:seems reasonable (Score:4, Insightful)
Re:This would be an April 1 joke! (Score:4, Insightful)
Yep I see it too. Dell is moving to the enterprise and fast on its way to becoming a mini IBM where Apple is peddling gadgets and desperate for a new idea.