Thursday, July 18, 2013

Reuters: Technology News: Dell puts off buyout vote; still short despite crucial backers

Posted by Isabella on 7:57 AM

Reuters: Technology News
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Dell puts off buyout vote; still short despite crucial backers
Jul 18th 2013, 14:21

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A Dell laptop computer is pictured in New York in this August 26, 2008 file photograph. REUTERS/Brendan McDermid/Files

A Dell laptop computer is pictured in New York in this August 26, 2008 file photograph.

Credit: Reuters/Brendan McDermid/Files

NEW YORK | Thu Jul 18, 2013 8:57am EDT

NEW YORK (Reuters) - Several large shareholders including Vanguard Group Inc and BlackRock Inc voted in favor of Michael Dell and Silver Lake's deal to take Dell Inc private, but the proposal is still short of shareholder votes, a person familiar with the matter said.

Other big investors previously seen as swing votes, such as State Street Corp, Bank of New York Mellon Corp and Invesco also voted their shares in favor of the deal on Wednesday night, the eve of the shareholder meeting, the person said.

The deal still needed another 150 million shares to pass as of Thursday morning, but votes were still coming in and the tally could change before voting ends, the person said.

(Reporting by Nadia Damouni in New York, Editing by Soyoung Kim)

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