News Summary: Dell deal faces more opposition
Published: February 12, 2013
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RILED SHAREHOLDERS: Another major Dell shareholder is opposing the struggling computer maker's proposed $24.4 billion sale to the company's founder and other investors. The resistance announced Tuesday by mutual fund firm T. Rowe Price comes after Southeastern Asset Management lambasted the deal last week.
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THE GRIEVANCE: Both T. Rowe Price and Southeastern contend Dells' founder and CEO, Michael Dell, and investors led by Silver Lake should be required to pay more than the $13.65 per share being offered under the current agreement.
WALL STREET WAGERING: Investors seem to think a higher bid will come. Dell's stock gained 9 cents Tuesday to close at $13.79.
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