U.S. Morning Call: Dell founder told to raise the stakes
Wednesday, July 03, 2013 - 02:58
July 3 - Michael Dell has been advised by a special committee to raise his $24.4 billion offer for Dell now that Carl Icahn has committed more money to back his bid.
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The stakes get higher in the Tug of war for Dell. That's at the top of today's morning call. -- special committee warning founder Michael -- that he needs to put up or potentially get shut out. The CEOs 24 point four billion dollar deal to take out private not looking as good after Carl Icahn said. He committed more than three billion dollars to back his -- Michael Dell noncommittal though and has silverlight has made it clear kicking anymore cash. The -- have until July 18 to take the port device. That's when shareholders vote on which to take. Key recommendation from investment advisory firm ISS could persuade shareholders. And they come as early as next week. Shares of Dell up slightly in the premarket. Is Marissa Mayer is signing deals left to right center her latest acquisition -- a mobile app for creating for -- I've. The price fifty dollars according to all things to me. And just keeping count this is -- fourteen announced acquisitions since the beginning of the year. Our necks stuck to watch -- new -- -- -- transparent about each year pants fiasco. At least that's how once -- feels. -- Massachusetts resident with 7511. Shares is -- company. For covering this situation with the defective pants and selling them right to preserve market share. The lawsuit also set -- before announcing CEO Christine days departure on June 10. Eleven concealed quotes discussions about her job status and the potential to replace her. Eleven shares fell seventeen and a half percent the following day wiping out about one point six billion dollars of market. Now let's take a quick look at markets US stock futures are pointing to negative start this morning. Traders will wrap up work early today and the stock market will be close for the July 4 holiday tomorrow. Ten year treasury yields hovering around 2.4 percent at the moment. The carnage in the bond market has reduced the assets and -- total return bond fund by half percent according to Morningstar. Investors pulled nine point six billion dollars fund which is managed by pilgrims. That's the largest month outflows since Morningstar records began twenty years ago. Also keep an eye and a slew of economic data this morning including ADP's private report for June in an initial jobless claims. ATP could give some indication as to what may come in Friday's jobs report. That's victory Wednesday morning call remembered follow us on Twitter at Reuters Insider and get more great media at twitter.com. Slash Reuters. And receiver.
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