Dell Inc. responded to its biggest outside shareholder by arguing that its leveraged buyout deal offers shareholders “an attractive and immediate premium,” after Southeastern Asset Management Inc. said the proposal undervalued the personal-computer maker.
Michael Dell set up a family office in 1998 that diversified his wealth beyond stock in the computer maker he had started 14 years earlier. Now, as he seeks to take Dell Inc. private, the same investment firm may provide pivotal financing for what would be the largest buyout since 2007.
Dell Inc. directors’ move to change shareholder voting rules for founder Michael Dell’s buyout bid worth as much as $24.9 billion has tainted the deal, investors challenging the offer said in court filings.
Dell Inc. , the third-largest maker of personal computers, plans to consolidate four Northern California offices into a new research and development center that will employ as many as 1,500 people within five years.