Key Developments: Dell Inc (DELL.O)
13.38USD
2 Jul 2013
$0.07 (+0.53%)
$13.31
$13.32
$13.39
$13.31
21,958,397
19,742,392
$14.64
$8.69
Latest Key Developments (Source: Significant Developments)
The Law Office of Robbins Arroyo LLP Announces Class Action Lawsuit Against Dell Inc
Robbins Arroyo LLP announced that the firm commenced a class action lawsuit on May 30, 2013, in the U.S. District Court, Southern District of Texas, Houston Division, on behalf of the shareholders of Dell Inc. against Dell and its board of directors for, among other things, violations of sections 14(a) and 20(a) of the Securities and Exchange Act of 1934 (the Exchange Act) in connection with the proposed acquisition of Dell by its Founder, Chairman, and Chief Executive Officer, Michael Dell in partnership with Silver Lake Partners, L.P. (Silver Lake and collectively with Michael Dell, the Acquirers). The complaint arises out of a February 5, 2013 press release announcing that Dell had entered into a definitive merger agreement with the Acquirers, pursuant to which Dell shareholders would receive $13.65 in cash for each share of Dell they own. The complaint seeks injunctive relief on behalf of the named plaintiff and all other similarly situated shareholders of Dell as of February 5, 2013. The named plaintiff is represented by Robbins Arroyo LLP. Full Article
Dell Inc Approves Quarterly Cash Dividend
Dell Inc announced that on July 22, 2013, a quarterly cash dividend of $0.08 per common share will be payable to all shareholders of record as of the close of business on July 1, 2013. Full Article
Dell Inc Launches Cloud Solution For U.S. Governments
Dell Inc announced that the launch of Dell Cloud for U.S. Government, a secure solution that offers customers with cloud environment. Designed to meet the stringent Federal Risk and Authorization Management Program (FedRAMP) approval process as well as National Institute of Standards and Technology (NIST) 800-53 criteria while helping to meet cloud commitments outlined by the U.S. Chief Information Officer, the Dell Cloud for U.S. Government offers both single and multi-tenant environments. Full Article
JTG Daugherty Racing Selects Dell Inc To Speed Past Competition
JTG Daugherty Racing announced that it has selected Dell Inc Rugged laptops to help manage the testing and tuning of its No. 47 Toyota Camry race car in harsh race track conditions and garage environments. Full Article
Dell Inc Expands Alliance With Oracle Corp-DJ
Dow Jones reported that Dell Inc unveiled an expanded global alliance with Oracle Corp. in which the companies will offer business products that combine Dell's hardware and Oracle's software. For Oracle, the expanded deal reflects the company's struggles with incorporating its $7.5 billion purchase in 2010 of hardware maker Sun Microsystems. Full Article
Dell Inc Bidders Pitch Shareholders on Buyout-WSJ
The Wall Street Journal reported that the battle for control of Dell Inc. is about to move into a new, heated phase, when the Company and the group trying to buy it will for the first time be able to press their case directly to shareholders. Already, shareholders have been peppered with arguments for and against the proposed $24.4 billion sale of the computer maker, signed in February, to Silver Lake Partners and Michael Dell, founder and chief executive. But the war has largely been waged in public filings and the media since the agreement was reached in February. Within days, the company and its would-be buyers are expected to be able to contact investors directly to try to persuade them to vote for the deal, which will let them sell their holdings for $13.65 a share. The deal has been hotly contested almost since its signing, with a portion of the long-term shareholder base already aligned against it. In the final vote, the outcome could come down to how hedge funds and the company's small shareholders end up voting, say people familiar with such showdowns. Full Article
Troup County School System Chooses Dell Inc to Support Personalized Learning
Dell Inc announced that Troup County School System has deployed Dell Latitude e5530 laptops, Latitude 6430 ultrabooks and Optiplex 3010 desktop computers across all 20 of its schools. Troup County School System switched to Dell from their long-time commitment to HP in order to provide an increased amount of access to their nearly 13,000 students. Dell brought an affordable, high-performing mix of solutions to maximize their digital learning and teaching needs. Dell is partnering with its PartnerDirect Partner of the Year, CORE ATG, to provide Troup County School System with a range of services, such as digital etching, asset tagging and offsite disposal of all cardboard and plastic shipping and packaging material. CORE ATG will also be providing asset recovery services that include removal of all existing electronic equipment, data wiping hard drives in accordance with Department of Defense standards and responsibly disposing of electronic waste with a local certified specialist. The new computers will help Troup County School System align with the Common Core Standards, a mandate that aims to prepare students for the demands of the 21st Century workforce, adopted by the state of Georgia. Online collaboration is an essential part of aligning with the standards and the new devices provide students and teachers a gateway to the tools, professional development, common assessments and other instructional materials available on the internet. Full Article
WiLan Inc And Dell Sign License Agreement And Settle Litigation
WiLan Inc announced that Dell Inc. (Dell) and WiLAN have signed a license agreement to settle patent litigation. Dell has obtained a license to a subset of wireless patents for certain wireless products and the litigation between the two companies will be dismissed. Terms of the agreement are confidential. Full Article
Dell Inc Committee Again Seeks More Info From Icahn On Takeover Bid-DJ
Dow Jones reported that Dell Inc's special committee sent another letter to activist investor Carl Icahn and Southeastern Asset Management Inc. seeking more information about their takeover proposal, reiterating that the committee can't engage in talks until determining the proposal to be credible. In a letter last week, the committee said it wasn't clear whether the offer is an actual acquisition proposal or an alternative that should be considered if Dell's pending $24.4 billion sale to Silver Lake Partners and founder Michael Dell isn't approved. On Monday, the committee again said that unless the board determines the alternative proposal reasonably could be expected to result in a superior proposal to its existing deal, it isn't permitted to provide information or engage in talks. Mr. Icahn and Southeastern proposed the alternative offer earlier this month, saying they propose giving Dell shareholders the option to keep holding stock in the company and take an additional $12 a share in cash or stock. The cash-or-stock dividend would cost more than $21 billion. If the board doesn't back their offer, Mr. Icahn and Southeastern said they would nominate new directors to replace Dell's current board, raising the prospect of a proxy fight. Full Article
Dell Inc Special Committee Requests Additional Information On Proposal From Carl Icahn And Southeastern Asset Management
Dell Inc announced that the Special Committee of the Board of Directors of the Company has sent a letter to Carl Icahn and Southeastern Asset Management, requesting additional information related to the proposed leveraged recapitalization transaction submitted to the Special Committee on May 9, 2013, as part of the Special Committee`s thorough review of the proposed transaction. Full Article
Founder told to sweeten offer for Dell as Icahn ups the stakes
NEW YORK - Michael Dell has been advised to raise his $24.4 billion offer for Dell Inc, coming under further pressure as billionaire investor Carl Icahn revealed he had committed more than $3 billion to back an alternative proposal.
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