March 5 Dell Inc's largest outside
shareholder is demanding the PC maker open its books, signaling
that it could become more active in opposing founder Michael
Dell's proposal to take the company private.
Southeastern Asset Management, which holds more than 8
percent of Dell shares including options, asked for the records
in a regulatory filing Tuesday on behalf of its largest client,
Longleaf Partners Fund.
Citing Dell's silence on the deal during a recent earnings
call, Southeastern wrote in the letter to Dell included in the
filing that "shareholders should be provided with meaningful,
A representative for Dell was not immediately available to
A growing number of Dell investors, including T. Rowe Price
Group, are unhappy with Michael Dell and his partners'
plan to take the company private for $24 billion.
Those partners include private equity firm Silver Lake and
Memphis-based Southeastern, run by activist investor Mason
Hawkins, has suggested several alternatives that it says would
produce a better outcome for public shareholders. Dell could
borrow money to make a major share repurchase, or the company
could be broken up and the units sold separately, Southeastern
Dell shares closed Monday at $14, nearly 3 percent higher
than the $13.65 per share Michael Dell and his partners have