Dell Investor Blasts Flawed Approval Of $24.4B Buyout

Law360, New York (April 9, 2013, 3:45 PM EDT) -- Dell Inc.'s second-biggest shareholder, Southeastern Asset Management Inc., on Tuesday ripped the company's approval of the $24.4 billion buyout offer from founder Michael Dell and backed by private equity firm Silver Lake Partners, saying the company bungled its evaluation of the deal.

In a public letter, Southeastern blasted Dell's board for failing to make a compelling case for shareholders to sign off on the $13.65-per-share offer lobbed by Michael Dell and Silver Lake in a March proxy statement. The firm also chided Dell's leadership for glossing...
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