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Dell Gets More Support for Privatization

Dell shareholders are being advised to take the money and run

No sooner had Michael Dell and Silver Lake gotten the go-ahead for their takeover scheme from Institutional Shareholder Services (ISS) Monday than Glass Lewis and Egan-Jones, the two other important if not quite as influential proxy advisors, fell into line behind ISS and advised Dell shareholders to take the money and run.

They’re being offered $13.65 a share in cash.

Dell’s special board committee released a statement saying, “We are pleased that all three of the nation’s leading proxy advisory firms have issued clear and unequivocal recommendations in favor of the transaction now before shareholders for their approval. Each has conducted an independent review and concluded, as has the special committee, that a sale of Dell for $13.65 per share in cash will provide certainty of value at a substantial premium, and is therefore in the best interests of shareholders.”


Michael Dell personally addressed Cloud Expo New York delegates by video, June 2011

If the stockholders vote set for July 18, goes against the offer Dell stock could fall to $8 a share, roughly where it was before the press outed the buyout offer back in February.

Glass Lewis said the terms “are fair and ultimately acceptable to Dell shareholders.”

More Stories By Maureen O'Gara

Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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