Reuters: Technology News: Top outside shareholder demands Dell open its books

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Top outside shareholder demands Dell open its books Mar 5th 2013, 13:58 Tweet Share this Email Print Related News Barnes & Noble chairman plans offer for bookstore business Mon, Feb 25 2013 Hedge fund manager Einhorn blasts Dell's buyout plan Thu, Feb 21 2013 Dell profit falls amid attempt to go private Tue, Feb 19 2013 T. Rowe Price joins growing opposition to Dell buyout Tue, Feb 12 2013 Wall Street ends flat as investors seek new catalysts Mon, Feb 11 2013 Analysis & Opinion Heinz: The headline-friendly LBO Dell LBO objectors in tight corner Related Topics Investing and Taxes Simplified » Tech » A man wipes the logo of the Dell IT firm at the CeBIT exhibition centre in Hannover February 28, 2010. Credit: Reuters/Thomas Peter Tue Mar 5, 2013 8:58am EST (Reuters) - Dell Inc's largest outside shareholder is demanding the PC maker open its books, signaling that it could become more active in opposing founder Michael Dell's proposal to take the company private. Southeastern Asset Management, which holds more than 8 percent of Dell shares including options, asked for the records in a regulatory filing Tuesday on behalf of its largest client, Longleaf Partners Fund. Citing Dell's silence on the deal during a recent earnings call, Southeastern wrote in the letter to Dell included in the filing that "shareholders should be provided with meaningful, straightforward information." A representative for Dell was not immediately available to comment. A growing number of Dell investors, including T. Rowe Price Group, are unhappy with Michael Dell and his partners' plan to take the company private for $24 billion. Those partners include private equity firm Silver Lake and Microsoft Corp. Memphis-based Southeastern, run by activist investor Mason Hawkins, has suggested several alternatives that it says would produce a better outcome for public shareholders. Dell could borrow money to make a major share repurchase, or the company could be broken up and the units sold separately, Southeastern has said. Dell shares closed Monday at $14, nearly 3 percent higher than the $13.65 per share Michael Dell and his partners have offered. (Reporting By Jennifer Saba in New York; editing by John Wallace) Investing and Taxes Simplified Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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