Fri March 22, 2013
Dell Deadline Nears
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.
But St. John’s University business law professor Anthony Sabino says the buyout is not a done deal at midnight.
“Even though the statutory period ends today for the go shop, the board of directors must still entertain any and all serious bids from outsiders such as Carl Ichan," Sabino said, referring to the billionaire investor who is probing Dell's financial statements.
"This battle ends. The war is still ongoing, so who’s to say who’s going to own Dell further down the road?” Sabino said.
Several major shareholders have said the current offer undervalues Dell. The company employs about 14,000 people in Central Texas.