Beleaguered Dell: Why Michael Dell’s buyout deserves to die

“In an action worthy of Vladimir Putin, Dell postponed a vote scheduled for last Thursday on Michael Dell’s proposed buyout of the company when it became apparent that there was insufficient shareholder support for the deal,” Andrew Bary writes for Barron’s.

“The new vote, scheduled for Wednesday, still looks tough for Dell to win, even if he agrees to a small increase in the deal price of $13.65 a share, because of what appears to be determined opposition from a sizable minority of shareholders and the unwillingness of a surprising number of Dell holders to cast votes in the contest,” Bary reports. “The buyout needs the support of about 42% of Dell investors… Despite an unprecedented five-month scare campaign that trashed Dell’s prospects, the Dell special committee appears to have come up with just about 36% of the vote.”

Bary writes, “There’s no need for Dell to be a private company to execute its turnaround. A sizable minority of Dell investors want to participate in its potential revival. They shouldn’t be denied that opportunity.”

Read more in the full article here.

MacDailyNews Take: Beleaguered Dell deserves an ignominious end.

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16 Comments

  1. How childish, MDN. One can’t believe in free, competitive markets while at the same time hoping that the competition dies. Greedy multimillionaire ego-fests notwithstanding, Dell sells a lot of products that Apple won’t, and it employs a lot of good people.

    I swear, if Apple was to buy a chunk of Dell for design and/or manufacturing, and make absolutely no changes to infrastructure or personnel, then fanboys at MDN would declare that the new stuff produced by former Dell people in a former Dell facility would be the best in the world, because it has an Apple logo on it now.

    MDN, grow up. Cheer Apple to continue to do well, not for other enterprises to perish. The workers at Dell, just like any company, deserve respect for the jobs they do well, even if their product offerings don’t say “Designed in Cupertino”.

    1. Oh hell no. The workers at Dell are responsible for shitty Microsoft based computers ending up at schools in front of kids. I will enjoy seeing them go on unemployment. What a shitty ‘contribution’ to the world. Vile and ugly and painful to use technology shoveled into the faces of children.

      No way are they getting my sympathy when the company goes under. Do something meaningful for the world, there are plenty of other honorable careers each of those employees could have taken. They picked working at Dell.

      1. Don’t blame the workers (aside from those in their “design” and “product development” departments). Those folks just build what they’re told to build. If Apple or its OEMs were to buy those plants and retrain the workers, I’m sure they’d be delighted to build for Apple.

    2. MDN can be as “childish” as he wants. Mac users put up with taunts for DECADES about how much better, faster, cheaper and more popular PC’s were. But now, the shoe is on the other foot, isn’t it? Turns out the Macintosh platform was superior all along and as a long time Mac user, I thoroughly enjoy watching the gloaters sink with the Delltanic.

      1. Amen. The workers who are working for Dell could have worked somewhere else, they chose to be a part of inflicting Dell computers upon the world.

  2. Let’s overlook the sick wish that other Americans should suffer just because you are having a had time in Michigan.

    Why not focus on the $17 billion that Michigan receives from the federal government every year (about 36% of of the state budget). Where do you think this money comes from? It comes from the states that are doing WELL, and it subsidizes states run by morons who can’t understand basic math.

    With residents who think like you (and elect said morons), it is no wonder that Detroit went bankrupt.

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