July 18, 2013 |
Dell Inc. has postponed a shareholder vote on its $24.4-billion buyout plan, a sign that not enough investors were on board with founder and Chief Executive Michael Dell's bid to take the company private. The PC maker delayed the vote Thursday shortly after it began a special meeting of shareholders in Round Rock, Texas, where the company is based. Dell released a short statement saying no vote was taken on the proposed transaction before the meeting adjourned. Many large investors had signaled their opposition to the plan in the days leading up to Thursday's gathering.
July 12, 2013 |
Billionaire Carl Icahn has again upped his bid for Dell Inc., this time by adding a warrant to his takeover plan. Under the modified plan by Icahn and Southeastern Asset Management, shareholders would receive $14 a share and a warrant for every four shares that they tender. The warrants could be used to purchase Dell shares for $20 in the future. The move is widely seen as an attempt to force company founder and Chief Executive Michael Dell, who is hoping to take the computer maker private in a $24.4-billion leveraged buyout, to increase his bid. Michael Dell's bid of $13.65 a share, made with global technology investment firm Silver Lake Partners, was seen by many as too low. "We believe that the total value to tendering stockholders would be approximately $15.50 to $18 per share, as compared to Michael Dell/Silver Lake's offer of $13.65 a share," Icahn said in a letter to shareholders.
February 5, 2013 |
After struggling for years to remake itself, Dell Inc. has announced it will be taken private in a deal valued at about $24.4 billion. Under the terms of the agreement, the Round Rock, Texas, company will be acquired by Dell founder and Chief Executive Michael S. Dell and global technology investment firm Silver Lake. Microsoft Corp. will invest $2 billion in the deal, a move the Redmond, Wash., company said it was undertaking to help support "the long-term success of the entire PC ecosystem.
February 27, 2009 |
Dell Inc. said its profit dived 48% during its fiscal fourth quarter as the recession forced consumers and businesses to spend less on technology. The company also said it expected to make further cuts to its workforce. Earnings for the quarter that ended Jan. 30 sank to $351 million, or 18 cents a share, from $679 million, or 31 cents, a year earlier. Excluding one-time charges, Round Rock, Texas-based Dell would have earned 29 cents a share in the quarter, just above the 26 cents a share expected by analysts polled by Thomson Reuters.
August 29, 2008 |
Computer maker Dell Inc. said Thursday that its fiscal second-quarter profit fell 17%, hurt in part by lower prices and restructuring charges. The earnings were short of Wall Street estimates, and Dell shares plunged. Dell's net income dropped to $616 million, or 31 cents a share, in the quarter that ended Aug. 1, from $746 million, or 32 cents, a year earlier. Sales rose 11% to $16.4 billion, ahead of Wall Street's prediction for $15.9 billion. Excluding amortization and business realignment charges, Dell said it would have earned 33 cents a share.
March 26, 2008 |
Dell Inc. said Tuesday that the computer industry was experiencing a shortage of batteries for laptop models in part because of a recent fire at a major supplier. The computer maker said it was working with other suppliers to limit any price increases. Dell, the world's second-largest PC maker after Hewlett-Packard Co.