Why did Dell refuse
Dell's Supervisory Board rejects Michael Dell's bid increase for the time being
A special commission of the Dell supervisory board has rejected the bid of CEO Michael Dell and Silver Lake Partners, which was recently improved to $ 13.75 per share. Literally it was said that one could "not yet" accept it. The vote planned for tomorrow on their earlier offer of $ 13.65 per share can go ahead as planned.
A reason for the rejection was not given. Michael Dell had linked the increase with the condition that votes that were not exercised should not be regarded as votes against, as originally intended. This earned him the ridicule of the investor Carl Icahn, who submitted a competing bid for Dell - after all, it was Michael Dell himself who worked out the procedural modalities.
The committee, which has to review all offers on behalf of the supervisory board, sent Michael Dell and Silver Lake the rejection by letter. One is “not ready to accept the commandment”, it says - with a request for an answer. It shouldn't be long in coming.
Michael Dell would like to take the company he founded off the stock exchange by buying back shares. Icahn, currently the second largest shareholder, considers it to be significantly undervalued at a price of $ 13.65. Since Icahn was able to prove his funding, the majority of shareholders seem to prefer this bid. This is probably the reason why the Michael Dell-inclined supervisory board has already postponed the vote on the offers twice.
Michael Dell has offered to remain as CEO in the event of failure. However, he is not available for a debt-financed renovation as Icahn is aiming for. Icahn, on the other hand, recently wrote: "It is time for Michael Dell and the board of directors to resign."
[with material from Don Reisinger, News.com]
Tip: How well do you know high-tech companies that are listed on the stock exchange? Test your knowledge - with 15 questions on silicon.de.
- What do you know about luxury cars
- How can you feel a flea bite?
- How do you do a J curve
- What is the treatment for tuberculosis lymphadenitis
- Which massage parlor do you work for
- How is genetic information encoded
- What does a television producer do
- When were the first safety boots made?
- How difficult is it to learn Greek
- Does the soul need nourishment
- What is a non-zero integer
- What does an Audi A8 cost
- What happened to TikTok
- What is the political situation like in Transnistria
- What would alcohol turn blue?
- How did Harley Quinn die
- What is the best hydrogen water generator
- A rabbit is a viviparous animal
- How is it that a matrix is a vector
- How effective is the spear missile
- What are the best online lectures
- Which primaries are from California
- What are deep soft skills
- How do I seal a bathtub