Michael Dell's bid against his private computer company growth last Wednesday, billionaire Carl Icahn that Dell has no right to postpone the shareholder vote, the deal looks even more likely to fail.
Dell shares held by nearly 30% against the founder of Dell and private equity firms Silver Lake, is now scheduled for Thursday morning in Austin, Texas, one ticket $ $ 2.44 billion offer. This includes the shareholders said they would vote against the buyout or have been reported against it.
Dell may decide to postpone the July 18 vote, in order to gain time, to win support for the deal, a person familiar with the matter said on Tuesday asked not to be identified because the discussions are confidential.
Last Wednesday in an open letter to shareholders, billionaire activist investor Carl Icahn (Carl Icahn), he has accumulated a 8.7% stake in Dell said that Dell's Board of Directors Special Committee must allow for the final vote will be scheduled on July 18 to complete. He again urged shareholders to oppose the acquisition.
"Can you imagine a political campaign, to promote the election of one party may wait for a better day, the elections - the date when it wants the vote, they may do better than they would do the scheduled election date do? "he wrote.
The stock ended down 1.1% at $ 12.88 on Wednesday, its lowest level since July 5.
Michael Dell (Michael Dell) and Silver Lake has so far refused, including those from Dell's special committee, 13.65 yuan per share to raise its offer.
Two people familiar with the matter said on Tuesday that it would adhere to their offer bidders even vote was postponed. The source asked not to be found, because they were not authorized to speak to the media.
Wall Street Journal reported on Wednesday, Vanguard Group (Vanguard Group) Corporation, America's largest mutual fund managers and holders of a 3.7% stake in Dell, as well as State Street Corporation, owns 3.5% of the shares, to vote against the buyout. Vanguard and State Street declined to comment.
Vanguard and State Street running index funds, shareholder advisory firm will usually follow. They decided to defy all the three consulting company Dell acquired voting results suggested the uncertainty will increase.
Other key minority, including Highfields Capital Management, BlackRock, T. Rowe Price's Group Inc., Pzena Investment Management and Yacktman Asset Management, has come out against the buyout or the report said, they oppose declined to comment.
In the so-called minority voting majority requirements, Dell majority shareholders, not including Michael Dell (Michael Dell) for about 16 percent of the company, the buyout so that it passes through voting.
This means that shareholders other than Michael Dell, who co-owns nearly 43% of the boulders, headquartered in Texas, the company needs it to go through the buyout vote.
Accounting Icahn and his partners Southeastern Asset Management Company, the acquisition of the shares of total close to 30%, Dell's shareholder base.
To be sure, a number of shareholder support transactions are holding their ground, including Invesco Asset Management Ltd PowerShares ETF line, Dell held about 1% of the shares, according to recent filings.
Asked how they would vote, Kristen Sadlon Invesco spokesman said in an email that these funds will be in accordance Lewis Glass Co., like other agents advisers, Glass Lewis has recommended shareholders vote in favor of the Offer vote.
Dell's Board of Directors Special Committee may decide whether to postpone the vote, according to the number of votes cast to prevent the number of acquisitions last Thursday morning. Dell's board of directors has set up a special committee to independently assess the best choice for the shareholders, not affected, who is the company's chairman and CEO Michael Dell.
Icahn has argued that, since March, Dell is trying to steal the company's founder shareholders of the Company for nearly 30 years after he founded it, just $ 1,000.
Icahn and Southeastern Dell announced last week their latest alternative offer. It requires the repurchase of up to $ 14 U.S. dollars, 110 million shares for every four shares held by Dell warrants.
Each warrant will entitle the holder in the next seven years to buy a Dell share of $ 20.
Icahn estimated the value of his latest offer of $ 15.50 per share for $ 18, while Dell's special committee controversy.
In order to consider his proposal Dell shareholder, he must first have successfully vetoed Michael Dell (Michael Dell) offer, then win enough shareholder support to replace Dell's board members, his own nominee.
 



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