Exclusive: Southeastern joined by other Dell investors - source

NEW YORK Fri Feb 8, 2013 6:06pm EST

A company logo of Dell is seen on the cover of its laptop at a Dell outlet in Hong Kong October October 21, 2009. REUTERS/Bobby Yip

A company logo of Dell is seen on the cover of its laptop at a Dell outlet in Hong Kong October October 21, 2009.

Credit: Reuters/Bobby Yip

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NEW YORK (Reuters) - At least three of Dell Inc's top 20 shareholders support Southeastern Asset Management's decision to vote against the $24.4 billion buyout of the No. 3 PC maker led by CEO Michael Dell, a person close to the matter said.

Among the holders who support Southeastern are Harris Associates LP, Yacktman Asset Management LP and Pzena Investment Management LLC, which between them hold roughly 3.3 percent in Dell, the person said.

Harris and Yacktman were not immediately available for comment. Pzena's chairman, Richard Pzena, said a Dell deal should be in the $20 per share range or the company should explore other options.

(Reporting by Nadia Damouni; editing by Matthew Lewis)

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Comments (2)
MikeFrett wrote:
The buyout of Dell would give Microsoft an even bigger Monopoly on the market than they already have. Microsoft has done things recently, that clearly violate the Sherman act, and yet the DoJ seems to be ignorant of the matter.

Alternative Operating Systems such as Linux, BSD and others are in a fight for their life as Microsoft moves in to control the Hardware and Distributors of Computers. This Anti-Competitive behaviour can’t be tolerated.

Reuters, you need to investigate this and report on ‘Secure-Boot’ and buyouts such as this, by Microsoft. They are in clear violations of the Sherman Act and seem to have the DoJ on their Payroll.

Feb 09, 2013 5:54am EST  --  Report as abuse
Bunker555 wrote:
The most carefully prepared plans may go wrong. Souutheastern may see a bunch of underwater institutional investors jump on board till they can squeeze a few more dollars out of the deal. Perhaps the DELL board expected pushback from major investors and put the shoparound clause into the agreement. MSFT has a lot of cash and could be suckered into $4 billion.

Feb 09, 2013 3:47pm EST  --  Report as abuse
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