Michael Dell

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. 

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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.

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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.

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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.

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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.

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University of Texas
5:19 pm
Wed March 6, 2013

Bill Gates Helps Open UT's New Computer Science Building

Bill Gates spoke at the opening of a computer center his foundation financed to the tune of $30 million.
Bobby Blanchard for KUT News

Bill Gates – philanthropist, billionaire, entrepreneur and former chief executive of Microsoft – visited the University of Texas campus today to take part in the opening ceremonies of UT's new computer science building.

The Bill & Melinda Gates Computer Science Complex and Dell Computer Science Hall – or GDC for short –  cost the university $120 million to build. The Gates Foundation donated $30 million to the project and the Michael and Susan Dell Foundation donated $10 million. The new complex is 140,000 square feet and contains "research clusters" to encourage collaborative work.

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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.”

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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. 

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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.

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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.

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