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.