Dell http://kut.org en Dell Shareholders OK Buyout Offer (Update) http://kut.org/post/dell-shareholders-ok-buyout-offer-update <p><strong>Update</strong>: Dell stockholders approved Michael Dell's buyout offer this morning, according to a preliminary vote tally.</p><p>“I am pleased with this outcome and am energized to continue building Dell into the industry’s leading provider of scalable, end-to-end technology solutions,” Michael Dell said in a press release announcing the vote. &nbsp;You can <a href="http://www.dell.com/learn/us/en/uscorp1/secure/2013-09-12-michael-dell-silver-lake-stockholder-approval">read that release here</a>.&nbsp;</p><p><strong>Original post </strong>(9:06 a.m.): Dell shareholders are set to vote this morning on a nearly $25 billion buyout offer from founder Michael Dell. After several postponements, this time, the deal is expected to pass.</p><p> Thu, 12 Sep 2013 14:36:59 +0000 Laura Rice 8657 at http://kut.org Dell Shareholders OK Buyout Offer (Update) Carl Icahn Won't Fight Dell Deal Any Longer http://kut.org/post/carl-icahn-wont-fight-dell-deal-any-longer <p></p><p>Investor Carl Ichan says he will not longer fight Michael Dell’s bid to take his namesake company private.</p><p>For the last several months, Michael Dell – who began selling PCs from his dorm room at the University of Texas – had been attempting to take the publicly-traded company <a href="http://kutnews.org/post/michael-dell-taking-company-private-updated">back under private control</a>. But his buyout bid, arranged though investment firm Silver Lake, had been fought tooth and nail by Ichan, a major Dell stockholder. Ichan said the bid undervalued the company.</p><p> Mon, 09 Sep 2013 15:17:17 +0000 Wells Dunbar 8630 at http://kut.org Carl Icahn Won't Fight Dell Deal Any Longer 'Limited Number' of Dell Employees Laid Off http://kut.org/post/limited-number-dell-employees-laid <p>One of the largest employers in the Austin area is shedding a "limited" number of jobs.</p><p>According to company spokesperson David Frink, the layoffs affected people in Central Texas and around the world. Dell employs about 14,000 people in the region, mostly at its corporate headquarters in Round Rock.&nbsp;</p><p> Mon, 26 Aug 2013 23:49:49 +0000 Nathan Bernier 8544 at http://kut.org 'Limited Number' of Dell Employees Laid Off Dell Vote Delayed Again: New Deal Includes Higher Offer, Voting Changes http://kut.org/post/dell-vote-delayed-again-new-deal-includes-higher-offer-voting-changes <p>A Dell Special Committee has <a href="http://www.businesswire.com/news/home/20130802005426/en/Michael-Dell-Silver-Lake-Agree-Dell-Special" target="_blank">reached a deal</a> with founder Michael Dell. It raises his bid to buy the company by 10 cents per share but also changes some of the voting rules.</p><p>Instead of counting votes not cast as “no” votes, only votes that are submitted will be counted. This gives Michael Dell a better chance of getting his deal passed. Fri, 02 Aug 2013 13:57:19 +0000 Laura Rice 8448 at http://kut.org Dell Vote Delayed Again: New Deal Includes Higher Offer, Voting Changes Dell Decision Day: Today's Vote on Buyout Delayed (Update) http://kut.org/post/dell-decision-day-todays-vote-buyout-delayed-update <p><strong>Update: </strong>Dell is delaying a vote on founder Michael Dell’s offer to buy the company and make it private. The vote was scheduled to happen this morning – but is being pushed back – likely because major shareholders don’t support the deal.</p><p>Reports say the vote has been rescheduled for later this month.</p><p><strong>Original Story</strong> (6:14 a.m.):<strong> </strong>It is decision day for Dell shareholders.</p><p>They are scheduled to meet this morning and vote on whether to accept a <a href="http://kutnews.org/post/dell-keeps-pushing-buyout" target="_blank">buyout offer from company founder Michael Dell</a> and the private equity firm Silver Lake Management that values the computer maker at $24.4 billion. Thu, 18 Jul 2013 13:30:01 +0000 Nathan Bernier & Laura Rice 8375 at http://kut.org Dell Decision Day: Today's Vote on Buyout Delayed (Update) Blackstone Pulls Dell Offer http://kut.org/post/blackstone-pulls-dell-offer <p></p><p>Michael Dell may be the last man standing as he fights to take his company private.&nbsp; Today, rival bidder <a href="http://www.blackstone.com/">The Blackstone Group</a> dropped out.</p><p>It was David Johnson, formerly Michael Dell’s key turnaround executive, who led the Blackstone offer.&nbsp; Johnson left Dell in January.&nbsp; Today his group withdrew its bid, saying in <a href="http://blogs.wsj.com/moneybeat/2013/04/19/blackstones-letter-to-dell-we-will-not-be-pursuing-a-deal/">a letter obtained by the Wall Street Journal</a> that Dell’s outlook and finances are worse than they thought.</p><p> Fri, 19 Apr 2013 19:42:42 +0000 Mark Dewey 7429 at http://kut.org Blackstone Pulls Dell Offer New Offers For Dell http://kut.org/post/new-offers-dell <p><span style="line-height: 1.5;">Michael Dell may need to increase a $24.4 billion offer to buy out one of the largest employers in Central Texas. That’s after two new acquisition offers emerged today for Round Rock-based Dell.</span></p><p> Mon, 25 Mar 2013 23:16:47 +0000 Nathan Bernier 7079 at http://kut.org New Offers For Dell Dell Deadline Nears http://kut.org/post/dell-deadline-nears <p><span style="line-height: 1.5;">Round Rock-based Dell is facing a key deadline tonight in efforts to take the company private. A so-called “go shop” time period ends at midnight, when a Dell special committee will stop actively seeking alternative bids to the current $24.4 billion buyout offer. </span></p><p><span style="line-height: 1.5;">But St. John’s University business law professor Anthony </span>Sabino<span style="line-height: 1.5;"> says the buyout is not a done deal at midnight.</span></p><p> Fri, 22 Mar 2013 23:14:47 +0000 Nathan Bernier 7063 at http://kut.org Dell Deadline Nears Dell Grants Billionaire Investor Icahn a Look at the Books http://kut.org/post/dell-grants-billionaire-investor-icahn-look-books <p><span style="line-height: 1.5;"><a href="http://www.dell.com/">Dell</a> has agreed to open its books to billionaire investor <a href="http://en.wikipedia.org/wiki/Carl_Icahn">Carl </a></span><a href="http://en.wikipedia.org/wiki/Carl_Icahn">Icahn</a><span style="line-height: 1.5;">. The company’s founder, Michael Dell, is leading a group of investors who want to buy out the company and take it private for $24.4 billion. Several major investors have said that undervalues the Round Rock-based company. </span></p><p><span style="line-height: 1.5;">Now,&nbsp;</span>Icahn says he<span style="line-height: 1.5;"> has<a href="http://www.marketwatch.com/story/icahn-enterprises-lp-announces-entering-into-confidentiality-agreement-with-dell-inc-2013-03-11"> signed a confidentiality agreement</a> that allows him to dive deeply into Dell’s financial information. Anthony Michael </span>Sabino<span style="line-height: 1.5;"> is a business professor at St. John's University.</span></p><p> Mon, 11 Mar 2013 23:32:59 +0000 Nathan Bernier 6916 at http://kut.org Dell Grants Billionaire Investor Icahn a Look at the Books The Lead: Labor Deal at Capital Metro, Dell Stands Behind Buyout Offer, Austin Vehicle Thefts Up http://kut.org/post/lead-labor-deal-capital-metro-dell-stands-behind-buyout-offer-austin-vehicle-thefts <p><span style="color: rgb(51, 51, 51); font-family: Helvetica, Arial, sans-serif; font-size: 13px; ">Good morning. Austin's in for partly cloudy weather with a seasonal high in the 70s,&nbsp;</span><a href="http://www.srh.noaa.gov/ewx/" style="margin: 0px; padding: 0px; border: 0px; font-size: 13px; vertical-align: baseline; color: rgb(0, 82, 155); font-family: Helvetica, Arial, sans-serif; ">according to the National Weather Service</a><span style="color: rgb(51, 51, 51); font-family: Helvetica, Arial, sans-serif; font-size: 13px; ">.</span></p><p><strong>Lead Story</strong>: There’s a new two-year labor contract for Austin bus drivers.</p><p><a href="http://mcdonaldtransit.com">McDonald Transit</a> operates about 70 percent of <a href="http://www.capmetro.org/news-item.aspx?id=2057">Capital Metro</a>’s fixed route bus service.&nbsp; It has signed a two-year labor contract with <a href="http://www.atu1091.com/">Amalgamated Transit Union 1091</a>, which represents the drivers and mechanics, after being ratified with a union vote of 91 percent.</p><p> Thu, 07 Mar 2013 14:50:14 +0000 KUT Staff 6865 at http://kut.org The Lead: Labor Deal at Capital Metro, Dell Stands Behind Buyout Offer, Austin Vehicle Thefts Up The Lead: SXSW EDU, Texas and Gun Background Checks, Dell Shareholders’ Questions http://kut.org/post/lead-sxsw-edu-texas-and-gun-background-checks-dell-shareholders-questions <p></p><p>Good morning. The <a href="http://www.srh.noaa.gov/ewx/">National Weather Service says</a> Austin’s in for a partly cloudy and cool day, with a high in the mid-60s.</p><p><strong>Lead Story</strong>: This year’s array of South by Southwest conferences started this week with <a href="http://sxswedu.com/">South by Southwest EDU</a>, focusing on education.</p><p>One speaker yesterday was AISD Superintendent Meria Carstarphen, who looked ahead at the changing challenges for public education.</p><p> Wed, 06 Mar 2013 14:59:15 +0000 KUT Staff 6843 at http://kut.org The Lead: SXSW EDU, Texas and Gun Background Checks, Dell Shareholders’ Questions Why is Dell Stock Rising? http://kut.org/post/why-dell-stock-rising <p>Shares of Dell stock closed today at $13.92.</p><p>That’s 27 cents per share higher than the price Michael Dell and his co-investors have offered, in their efforts to <a href="http://kutnews.org/post/michael-dell-taking-company-private-updated">purchase the computer and IT services company</a>. Why would anyone pay more for the stock than Dell has offered?</p><p> Fri, 22 Feb 2013 23:53:48 +0000 Mark Dewey 6727 at http://kut.org Why is Dell Stock Rising? The Lead: Lege Debates Education Policy, Dell’s Quarterly Earnings http://kut.org/post/lead-lege-debates-education-policy-dell-s-quarterly-earnings <p>Good morning. <a href="http://www.srh.noaa.gov/ewx/">The National Weather Service says</a> Austin’s in for a cloudy and wet day with a high approaching 60 – and a chance for severe storms later tonight.</p><p><strong>Lead Story</strong>: Texas’ standardized testing system for public schools faced a fierce round of questioning yesterday before a panel of state lawmakers.</p><p>There's <a href="http://kutnews.org/post/bill-would-cut-back-standardized-tests">a growing push in the State Capitol</a> to change the testing system after complaints from parents and teachers that the new STAAR test is too challenging and is draining resources from school districts.&nbsp;</p><p> Wed, 20 Feb 2013 15:03:58 +0000 KUT Staff 6664 at http://kut.org The Lead: Lege Debates Education Policy, Dell’s Quarterly Earnings Second Dell Shareholder Opposes Buyout http://kut.org/post/second-dell-shareholder-opposes-buyout <p><span style="line-height: 1.5;">Another major shareholder of Dell says the Round Rock-based computer company is shortchanging its shareholders on <a href="http://kutnews.org/post/michael-dell-taking-company-private-updated">a buyout offer to take the company private</a>. </span></p><p><span style="line-height: 1.5;">T. Rowe Price CEO Brian Rogers said in a statement that the proposal of $13.65 a share "</span><span style="line-height: 1.5;">does not reflect the value of Dell and we do not intend to support the offer as put forward.”</span></p><p> Tue, 12 Feb 2013 20:49:52 +0000 Nathan Bernier 6562 at http://kut.org Second Dell Shareholder Opposes Buyout Dell Keeps Pushing for Buyout http://kut.org/post/dell-keeps-pushing-buyout <p>Round Rock-based Dell is defending its decision to go private, despite growing concerns from some major shareholders.</p><p></p><p>Dell issued <a href="http://www.sec.gov/Archives/edgar/data/826083/000119312513046524/d483619ddefa14a.htm">a statement</a> today reasserting that taking the computer maker private is the best move for the company. "In the course of its deliberations, the Special Committee of Dell’s Board considered an array of strategic alternatives," the statement reads. "The Board concluded that the proposed all-cash transaction is in the best interests of stockholders."</p> Tue, 12 Feb 2013 01:27:33 +0000 Ryland Barton 6553 at http://kut.org Dell Keeps Pushing for Buyout Dell Shareholder Wants to Block Buyout http://kut.org/post/dell-shareholder-wants-block-buyout <p><span style="line-height: 1.5;">A company that owns a stake in Dell says it plans to use “all options at its disposal” to stop a <a href="http://kutnews.org/post/michael-dell-taking-company-private-updated">$24 billion buyout</a> of the Round Rock-based company. <a href="http://www.longleafpartners.com/">Southeastern Asset Management</a> is based in Memphis and owns 8.5 percent of Dell’s outstanding shares. </span></p><p><span style="line-height: 1.5;">The company says in <a href="http://www.sec.gov/Archives/edgar/data/807985/000094787113000078/ss164605_sc13d.htm">a filing</a> with the Securities and Exchange Commission that the buyout price of $13.65 per share is too low.&nbsp;</span></p><p> Fri, 08 Feb 2013 20:43:47 +0000 Nathan Bernier 6526 at http://kut.org Dell Shareholder Wants to Block Buyout Dell Inc. Comes With Pile of Cash http://kut.org/post/dell-inc-comes-pile-cash <p><span style="line-height: 1.5;">If you’re spending $24 billion to buy a company, it’s important to know that that company also has $14 billion in cash. That’s Dell’s situation exactly, according to its most recent financial filings. But there’s a catch: it’s in overseas accounts. </span></p><p><span style="line-height: 1.5;">Company founder Michael Dell, who’s </span><a href="http://www.kutnews.org/post/michael-dell-taking-company-private-updated" style="line-height: 1.5;">trying to buy the company</a><span style="line-height: 1.5;">, can touch that money, but he’ll pay a steep price, according to Lillian Mills, chairwoman of the </span><a href="http://www.mccombs.utexas.edu/departments/accounting/" style="line-height: 1.5;">Accounting Department</a><span style="line-height: 1.5;"> at UT’s McCombs School of Business. She says that money was earned outside the United States, and if it comes home, it’s subject to U.S. taxes.</span></p><p> Thu, 07 Feb 2013 22:06:08 +0000 Mark Dewey 6506 at http://kut.org Dell Inc. Comes With Pile of Cash Lawsuit Claims Dell Buyout is at Expense of Shareholders http://kut.org/post/lawsuit-claims-dell-buyout-expense-shareholders <p><span style="font-family: Times; line-height: normal; "><a href="http://www.dell.com">Dell Inc.</a> is facing a lawsuit. It was filed in Delaware on Wednesday.</span></p><p><span style="font-family: Times; line-height: normal; ">The lawsuit accuses founder and CEO </span><span style="color: rgb(35, 35, 35); font-family: Times; line-height: normal; ">Michael Dell and other company directors of breaching their fiduciary duties by failing to maximize shareholder value and selling the company at the lowest price at the expense of shareholders.</span></p><p> Thu, 07 Feb 2013 14:22:08 +0000 Filipa Rodrigues 6498 at http://kut.org Lawsuit Claims Dell Buyout is at Expense of Shareholders Michael Dell Taking Company Private (Updated) http://kut.org/post/michael-dell-taking-company-private-updated <p><strong>Update</strong>: Dell's announcement this morning has thousands of Austin employees wondering how going private will affect them.</p><p>John Doggett is a Senior Lecturer at UT’s McCombs School of Business. He expects layoffs at Dell.</p><p>“I expect they will substantially reduce their PC group by most likely getting rid of consumer PCs and anybody in that group may lose their job," Doggett said. "They will also get out of their investor relations group because they don’t have any investors to talk to in the public. They probably will also not do any or many acquisitions... And I expect those who can leave, are going to leave. There’s going to be an exodus if they feel that their job is at risk."</p><p>Michael Dell sent an email out to employees shortly before 8:30 this morning. Tue, 05 Feb 2013 16:56:22 +0000 Wells Dunbar & Laura Rice 6468 at http://kut.org Michael Dell Taking Company Private (Updated) UT's New Medical School Now Has a Name: Dell http://kut.org/post/uts-new-medical-school-now-has-name-dell <p><a href="http://www.msdf.org/blog/2013/01/dell-medical-school/">The Michael and Susan Dell Foundation</a> announced a ten year commitment to turn Austin in a center of health care excellence. The foundation is donating $50 million to the University of Texas’s new medical school. It will be called the Dell Medical School.</p><p>The foundation also pledged $10 million to Austin and Travis County community health quality and access programs over the next decade. Thu, 31 Jan 2013 15:02:00 +0000 Filipa Rodrigues & Tyler Pratt 6416 at http://kut.org UT's New Medical School Now Has a Name: Dell