CFO reported that Southeastern Asset Management, Dell’s largest outside shareholder, contends that the proposed $24.4 billion transaction would be a bad deal.
Bloomberg reported that Dell, which agreed to a $24.4 billion buyout this month, is coming under increased pressure to make the deal more attractive to shareholders who say the transaction undervalues the company.
CFO reported that if the proposed $24.4 billion Dell deal is approved by the company’s shareholders, it will be the biggest leveraged buyout since the beginning of the financial crisis in 2007.
Reuters reported that Dell is closer to a sale agreement to a buyout syndicate led by founder and chief executive Michael Dell and Silver Lake Partners. The article said the deal could top $24 billion, translating into an equity valuation between $22.6 billion and $24.4 billion.