Dell shareholders approved the $24.9 billion amended buyout proposal...
Dell shareholders approved the $24.9 billion amended buyout proposal of CEO Michael Dell and investment company Silver Lake Partners, the computer company said a preliminary vote tally from the special shareholders meeting Thursday showed. Dell shareholders are to be paid…
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$13.75 cash for each share of company common stock, along with a special cash dividend of 13 cents a share, for total consideration of $13.88 a share in cash. The offer also guaranteed a regular quarterly dividend of 8 cents a share in Q3 that started Aug. 3. The transaction was approved by the holders of a majority of the computer company’s outstanding shares, it said. The CEO and Silver Lake intend to take the company private, they said when the offer was first announced early this year (CED Feb 6 p3). The initial offer was for $13.65 a share. The transaction is expected to close before the end of Q3, subject to customary closing conditions, including regulatory approval, the computer company said Thursday. Investor Carl Icahn and Southeastern Asset Management early this week gave up their bid to gain control of the computer maker as part of an alternative offer (CED Sept 10 p10). Dell shares closed unchanged Thursday at $13.85.