The board at Dell said that a takeover offer would be acting in best interest of companys shareholders. Dells founder and CEO Michael Dell has offered $13.65 per share to take the company private, according to filings with the Securities and Exchange Commission on Friday. The offer has been facing numerous criticism by some of the shareholders.
The Special Committee of the Board of Directors has issued a special letter to shareholders recommending that shareholders vote to approve the transaction considering its reasons.
Billionaire investor Carl Icahn and Southeastern Asset Management, Dells largest independent shareholder suggested an alternative that would let Dells shareholders to keep their stake and give them $12 per share in cash or more shares.
Dell and other PC product relying companies have been suffering losses as tablets and mobile devices has been “stealing” those companies market share. The CEO Michael Dell believes he could turn odds around as taking the company private and diversifying it into various niches such as data storage, business software and consulting.
Probably the decision will be taken on the meeting July 18 at the companys Round Rock, Texas headquarters. Dell shares are close to recording a monthly low as trading at $13.30 per share.
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