Did The Dell Majority-Of-The-Minority Clause Go Too Far?

Law360, New York (July 22, 2013, 6:41 PM ET) -- The proxy contest between Dell Inc. and Carl Icahn over Michael Dell’s proposal to take the company private has provided some of the most exciting moments in recent takeover history. In the hours before the Dell shareholders meeting was set to begin on Thursday, July 18, three of Dell’s largest stockholders — BlackRock Inc., State Street Corp. and the Vanguard Group — reportedly switched from a no to a yes vote, but their support was not sufficient to give the board a winning margin, and the...
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