ROUND ROCK (February 8, 2013)--Southeastern Asset Management, Inc., Dell's largest stockholder, aside from the struggling personal computer maker's CEO and founder Michael Dell, is trying to thwart the Round Rock-based company's plans to sell itself for $24.4 billion.
The opposition mounted Friday by Southeastern Asset Management Inc. could complicate Dell Inc.'s efforts to end its 25-year history as a public company because Southeastern Asset owns an 8.5 percent stake in Dell.
Under a plan announced earlier this week, Dell would pay existing stockholders $13.65 per share in a deal that would leave the company under the control of Dell and investment firm Silver Lake.
In a letter to Dell's board, Southeastern CEO O. Mason Hawkins dismissed Dell's proposed sale price as "woefully inadequate," contending that the company is worth at least $24 per share.
Dell declined to comment.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.