Dell

Dell
9:36 am
Thu September 12, 2013

Dell Shareholders OK Buyout Offer (Update)

Michael Dell at the Web 2.0 Summit in 2011. The Dell founder's bid to buy back his namesake company is expected to be successful.
flickr.com/kevinkrejci

Update: Dell stockholders approved Michael Dell's buyout offer this morning, according to a preliminary vote tally.

“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.  You can read that release here

Original post (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.

Read more
DELL
10:17 am
Mon September 9, 2013

Carl Icahn Won't Fight Dell Deal Any Longer

Dell founder Michael Dell's plan to take the computing company private has had a major stumbling block removed.
Stuart Isett/Fortune Brainstorm Tech

Investor Carl Ichan says he will not longer fight Michael Dell’s bid to take his namesake company private.

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 back under private control. 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.

Read more
Business
6:49 pm
Mon August 26, 2013

'Limited Number' of Dell Employees Laid Off

Dell's corporate headquaters in Round Rock. The company has announced layoffs, but hasn't said how many employees are affected.
Dell Computers

One of the largest employers in the Austin area is shedding a "limited" number of jobs.

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. 

Read more
Business
8:57 am
Fri August 2, 2013

Dell Vote Delayed Again: New Deal Includes Higher Offer, Voting Changes

Dell

A Dell Special Committee has reached a deal 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.

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.

Read more
Business
8:30 am
Thu July 18, 2013

Dell Decision Day: Today's Vote on Buyout Delayed (Update)

Dell employs about 14,000 people in Central Texas.
flickr.com/philschatz/

Update: 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.

Reports say the vote has been rescheduled for later this month.

Original Story (6:14 a.m.): It is decision day for Dell shareholders.

They are scheduled to meet this morning and vote on whether to accept a buyout offer from company founder Michael Dell and the private equity firm Silver Lake Management that values the computer maker at $24.4 billion.

Read more
Dell
2:42 pm
Fri April 19, 2013

Blackstone Pulls Dell Offer

Dell's bid may be the only one left.
Flickr.com/Oracle_Photos_Screenshots

Michael Dell may be the last man standing as he fights to take his company private.  Today, rival bidder The Blackstone Group dropped out.

It was David Johnson, formerly Michael Dell’s key turnaround executive, who led the Blackstone offer.  Johnson left Dell in January.  Today his group withdrew its bid, saying in a letter obtained by the Wall Street Journal that Dell’s outlook and finances are worse than they thought.

Read more
Business
6:16 pm
Mon March 25, 2013

New Offers For Dell

A briefing center used by Dell executives
Dell

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.

Read more
Business
6:14 pm
Fri March 22, 2013

Dell Deadline Nears

One of Dell's data storage systems, the EqualLogic Storage Systems
Dell

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.

Read more
Dell
6:32 pm
Mon March 11, 2013

Dell Grants Billionaire Investor Icahn a Look at the Books

People examine a Dell display at the CeBit conference last week in Hanover, Germany
Dell/Flickr http://www.flickr.com/photos/dellphotos

Dell has agreed to open its books to billionaire investor Carl Icahn. 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.

Now, Icahn says he has signed a confidentiality agreement that allows him to dive deeply into Dell’s financial information. Anthony Michael Sabino is a business professor at St. John's University.

Read more
The Lead
8:50 am
Thu March 7, 2013

The Lead: Labor Deal at Capital Metro, Dell Stands Behind Buyout Offer, Austin Vehicle Thefts Up

A union-approved contract may mean years of labor peace for Cap Metro.
Jeff Heimsath for KUT News

Good morning. Austin's in for partly cloudy weather with a seasonal high in the 70s, according to the National Weather Service.

Lead Story: There’s a new two-year labor contract for Austin bus drivers.

McDonald Transit operates about 70 percent of Capital Metro’s fixed route bus service.  It has signed a two-year labor contract with Amalgamated Transit Union 1091, which represents the drivers and mechanics, after being ratified with a union vote of 91 percent.

Read more
The Lead
8:59 am
Wed March 6, 2013

The Lead: SXSW EDU, Texas and Gun Background Checks, Dell Shareholders’ Questions

AISD Superintendent Meria Carstarphen spoke at SXSW EDU yesterday.
Jeff Heimsath for KUT News

Good morning. The National Weather Service says Austin’s in for a partly cloudy and cool day, with a high in the mid-60s.

Lead Story: This year’s array of South by Southwest conferences started this week with South by Southwest EDU, focusing on education.

One speaker yesterday was AISD Superintendent Meria Carstarphen, who looked ahead at the changing challenges for public education.

Read more
Dell
5:53 pm
Fri February 22, 2013

Why is Dell Stock Rising?

Shares of Dell stock closed today at $13.92.

That’s 27 cents per share higher than the price Michael Dell and his co-investors have offered, in their efforts to purchase the computer and IT services company. Why would anyone pay more for the stock than Dell has offered?

Read more
The Lead
9:03 am
Wed February 20, 2013

The Lead: Lege Debates Education Policy, Dell’s Quarterly Earnings

Standardized testing was a hot topic at the Capitol yesterday.
Filipa Rodrigues for KUT News

Good morning. The National Weather Service says Austin’s in for a cloudy and wet day with a high approaching 60 – and a chance for severe storms later tonight.

Lead Story: Texas’ standardized testing system for public schools faced a fierce round of questioning yesterday before a panel of state lawmakers.

There's a growing push in the State Capitol 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. 

Read more
Business
2:49 pm
Tue February 12, 2013

Second Dell Shareholder Opposes Buyout

An image from Dell Technology Camp 2013
Dell/Flickr http://www.flickr.com/photos/dellphotos/

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.”

Read more
business
7:27 pm
Mon February 11, 2013

Dell Keeps Pushing for Buyout

Michael Dell is trying buy shares back at what some consider to be a meager price.
flickr.com/dellphotos

Round Rock-based Dell is defending its decision to go private, despite growing concerns from some major shareholders.

Dell issued a statement 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."

Read more
Business
2:43 pm
Fri February 8, 2013

Dell Shareholder Wants to Block Buyout

Dell's headquarters in Round Rock
Dell

A company that owns a stake in Dell says it plans to use “all options at its disposal” to stop a $24 billion buyout of the Round Rock-based company. Southeastern Asset Management is based in Memphis and owns 8.5 percent of Dell’s outstanding shares.

The company says in a filing with the Securities and Exchange Commission that the buyout price of $13.65 per share is too low. 

Read more
Business
4:06 pm
Thu February 7, 2013

Dell Inc. Comes With Pile of Cash

The company is sitting on $14 billion in offshore accounts.
courtesy Dell Inc.

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.

Company founder Michael Dell, who’s trying to buy the company, can touch that money, but he’ll pay a steep price, according to Lillian Mills, chairwoman of the Accounting Department 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.

Read more
Austin
8:22 am
Thu February 7, 2013

Lawsuit Claims Dell Buyout is at Expense of Shareholders

The lawsuit says that founder and CEO Michael Dell's buyout is unfair to the computer company's stockholders.
flickr.com/oracle_images

Dell Inc. is facing a lawsuit. It was filed in Delaware on Wednesday.

The lawsuit accuses founder and CEO 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.

Read more
Business
10:56 am
Tue February 5, 2013

Michael Dell Taking Company Private (Updated)

It's showtime: Michael Dell at a 2012 Dell World event.
flickr.com/dellphotos

Update: Dell's announcement this morning has thousands of Austin employees wondering how going private will affect them.

John Doggett is a Senior Lecturer at UT’s McCombs School of Business. He expects layoffs at Dell.

“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."

Michael Dell sent an email out to employees shortly before 8:30 this morning.

Read more
Health
9:02 am
Thu January 31, 2013

UT's New Medical School Now Has a Name: Dell

UT-Austin President Bill Powers (left) with Michael and Susan Dell at the Michael & Susan Dell Foundation
Michael Thomas/AP Images for Michael & Susan Dell Foundation

The Michael and Susan Dell Foundation 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.

The foundation also pledged $10 million to Austin and Travis County community health quality and access programs over the next decade.

Read more

Pages