Thursday, July 18, 2013

Reuters: Technology News: Dell shareholder meeting adjourned to July 24

Posted by Isabella on 6:56 AM

Reuters: Technology News
Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com
Dell shareholder meeting adjourned to July 24
Jul 18th 2013, 13:25

  • Tweet
  • Share this
  • Email
  • Print
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 9:10am 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 PC maker 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 early Thursday morning, but votes were still coming in and the tally could change before voting ends, the person said, requesting anonymity because the matter is not public.

The proposed buyout needs about 735 million shareholder votes to pass.

Representatives of all the investment firms were not immediately available for comment.

Dell shareholders were set to gather in Texas on Thursday to vote on founder Michael Dell's $24.4 billion offer to take the company private, a deal that faces heavy opposition from activist Carl Icahn and other investors.

T.Rowe Price Group Inc, Highfields Capital Management, Pzena Investment Management and Yacktman Asset Management are among the shareholders that have voiced opposition to a deal they say undervalues the company.

(Reporting by Nadia Damouni in New York, Editing by Soyoung Kim and Lisa Von Ahn)

  • 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.
You are receiving this email because you subscribed to this feed at blogtrottr.com.

If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions

0 comments:

Post a Comment

Subscribe to: Post Comments (Atom)

 
Great HTML Templates from easytemplates.com.