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With an increasing number of shareholders speaking out against the buyout, Michael Dell should be concerned. Although he owns approximately 16 percent of the company’s stock, Dell’s offer for the computer manufacturer requires the approval of a majority of independent shareholders in order to be finalized.
In response the statements made by Southeastern Asset Management and T. Rowe Price Group, Dell reiterated an argument it made on Friday. A spokesman for the company said that Dell’s board had examined several alternatives. “Based on that work, the board concluded that the proposed all-cash transaction is in the best interests of stockholders,” he said in the statement seen by the Times.
Shareholders will vote whether to approve the deal in several months.
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