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Tuesday, October 1, 2013
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Dell Receives Regulatory Clearance For Merger Transaction
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Dell today announced that it has received all necessary pre-merger regulatory clearances for the consummation of the merger transaction in which Michael Dell, Dell's Founder, Chairman and CEO, will acquire Dell in partnership with global technology investment firm Silver Lake Partners.
Dell shareholders approved the plan September 12 after a proxy fight, with opposition led by billionaire investor Carl Icahn, claiming the plan undervalued the former number one computer maker.
The $25 billion proposal will remove Dell shares from the market.
Under the terms of the transaction, Dell shareholders will receive $13.75 in cash for each share of Dell common stock, plus a special cash dividend of 13 cents per share.
Dell expects the transaction to close before the end of the third quarter of the company's FY2014.
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