Shareholders vote on Michael Dell's buyout offer today

September 12
10:23 AM 2013

Reuters reported that shareholders of Dell Inc were expected to give their stamp of approval to Michael Dell's buyout proposal today. Shareholders started to cast their votes this morning in Austin, Texas. If Dell and partner Silver Lake would get the approval, they would be buying the world's No. 3 PC maker for a price tag of USD 25 billion and take it private.

According to Reuters, it took months for the Dell founder to convince the investors that he was offering the best deal. The path became clearer for Michael Dell when his staunchest opponent Carl Icahn backed out of the disagreement. Activist investor Icahn said the battle was "impossible to win."

Analyst Shannon Cross of Cross Research told Reuters that after the deal would close, Dell would finally be able to move on.  "Once the deal is consummated, they can move on and close some of the large infrastructure deals they've been working on. I do think there's been a bit of a pause," she said.

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