Dell (NASDAQ:DELL): Current price $14.22
On Wednesday, the Special Committee of Dell’s board of directors issued the following statement concerning its evaluation of the company’s strategic alternatives, (in part): “The Special Committee, consisting solely of independent directors and working with our independent legal and financial advisors, undertook a rigorous process, over a period of more than five months, to evaluate Dells current risks, opportunities and strategic alternatives. The alternatives included continuing with or modifying the Company’s existing business plan, conducting a leveraged recapitalization, changing the dividend policy, and potentially selling all or parts of the business. As a result of that process, the Special Committee unanimously determined that the sale of the Company would be the best alternative for stockholders. We negotiated aggressively to ensure that stockholders received the best possible value and agreed to a $13.65 per share transaction that provides value certainty at a 37 percent premium above the average price for the 90 days before rumors regarding the transaction surfaced.”
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