“Shares of Dell Inc. slid Friday following reports that CEO Michael Dell and Silver Lake will not be raising their proposed privatization bid for the PC maker, which is due to come to a shareholder vote later this month,” Dan Gallagher reports for MarketWatch.
“Dell took a significant tumble, falling 2.3% to $13.03 — the lowest closing price for the stock since before the company announced the privatization deal on Feb. 5,” Gallagher reports. “Bloomberg, citing unnamed sources, said Dell and Silver Lake believe their offer ‘represents a fair and significant premium’ to what the stock would trade at if the deal fell through.”
Gallagher reports, “Dell shareholders are slated to vote on the privatization offer at a special meeting on July 18. In a filing earlier on Friday, the special committee of Dell’s board warned of ‘substantial downside risk’ for the stock if the deal falls through.”
Read more in the full article here.
MacDailyNews Take: Gee, that’s too bad.
Steve the Destroyer strikes again! 🙂
SIDAGTMBTTS.
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