Reuters: Technology News: Proxy firm ISS backs Michael Dell's offer for PC maker

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Proxy firm ISS backs Michael Dell's offer for PC maker Jul 8th 2013, 12:15 Tweet Share this Email Print Related News Deals of the day -- mergers and acquisitions Fri, Jul 5 2013 Vivus, activist investor claim support in proxy battle Fri, Jul 5 2013 Investors press Dell on 'Plan B' as buyout bid totters Wed, Jul 3 2013 Founder told to sweeten offer for Dell as Icahn ups the stakes Wed, Jul 3 2013 Icahn, affiliates provide bulk of $5.2 billion Dell loan package Tue, Jul 2 2013 Analysis & Opinion IA brief: Advertising compliance principles for adviser Web sites Snowden versus the dragons A company logo of Dell is seen on the cover of its laptop at a Dell outlet in Hong Kong October October 21, 2009. Credit: Reuters/Bobby Yip Mon Jul 8, 2013 7:36am EDT (Reuters) - Investment advisory firm ISS has recommended Dell Inc shareholders vote for founder and Chief Executive Michael Dell's $24.4 billion offer for the PC maker, the company's special committee said. Michael Dell, whose offer is backed by equity financing from buyout firm Silver Lake, have ruled out raising their $13.65 per share bid, people familiar with the matter said last week. Billionaire Carl Icahn and Southeastern Asset Management have offered a rival bid that would see shareholders tender 1.1 billion shares at $14 apiece. Dell's shares were up 2.3 percent in premarket trading on Monday. They closed at $13.30 on Friday on the Nasdaq. (Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Saumyadeb Chakrabarty) 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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