Second Dell Shareholder Opposes Buyout
Another major shareholder of Dell says the Round Rock-based computer company is shortchanging its shareholders on a buyout offer to take the company private.
T. Rowe Price CEO Brian Rogers said in a statement that the proposal of $13.65 a share “does not reflect the value of Dell and we do not intend to support the offer as put forward.”
Peter Misek is an analyst with the global investment bank Jefferies, and he says the bid should be raised closer to $15 a share.
“We think investors are not getting the best offer they could, and we think the chances of the deal going through as it currently stands aren’t great,” Misek said. “We argue that the bid would need to be sweetened in order to get done.”
Last week, Southeastern Asset Management – another major Dell shareholder – said it would use all options at its disposal to block the buyout.
Dell employs about 14,000 people in Central Texas.