Thursday, August 8, 2013

Reuters: Technology News: Exclusive: T.Rowe reduces stake in Dell to 2.8 percent from 4 percent - sources

Posted by Isabella on 1:41 PM

Reuters: Technology News
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Exclusive: T.Rowe reduces stake in Dell to 2.8 percent from 4 percent - sources
Aug 8th 2013, 20:06

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The logo of a Dell laptop computer is pictured in Pasadena, California July 17, 2013. REUTERS/Mario Anzuoni

The logo of a Dell laptop computer is pictured in Pasadena, California July 17, 2013.

Credit: Reuters/Mario Anzuoni

By Nadia Damouni and Jessica Toonkel

NEW YORK | Thu Aug 8, 2013 3:54pm EDT

NEW YORK (Reuters) - T. Rowe Price Associates has reduced its ownership in PC maker Dell Inc to 2.8 percent stake from the 4 percent stake it previously held on March 31, two sources familiar with the situation said Thursday.

The Baltimore-based asset management firm reduced its holdings from 71.87 million Dell shares at the end of the first quarter to 49 million shares, the people said.

A T. Rowe spokesman declined to comment.

T. Rowe, which had been the fourth-largest shareholder of Dell, has been one of the most influential allies of activist investor Carl Icahn and his partner Southeastern Asset Management Inc in their opposition to a $25 billion buyout proposed by chief executive and founder Michael Dell and private equity firm Silver Lake Partners.

(Reporting by Nadia Damouni, Jessica Toonkel; Editing by Gary Hill)

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