Dell saves bomb thanks to legal ruling

Stefan Mileschin · 15th July 2015, 10:57

A legal ruling about who is actually a Dell investor will save the company a bomb.

The legal question decides who the record holder of a stock was and it might seem a simple question, but it was vital to Dell’s privatisation of his company.

A Delaware Court of Chancery judge removed several large investors from a consolidated lawsuit stemming from the $24.9 billion buyout of Dell in 2013 by founder Michael Dell and his private equity partner, Silver Lake.

Investors who opposed the deal, at $13.75 per share, asked a Delaware judge in 2013 to determine the fair price for the stock, a process known as appraisal.

To seek appraisal, shareholders cannot have voted in favour of the proposed buyout, and they have to be a continuous holder of record through the date of the deal.

http://www.techeye.net/business/dell...o-legal-ruling

15th July 2015, 10:57	#1
Stefan Mileschin [M] Reviewer Join Date: May 2010 Location: Romania Posts: 153,541	Dell saves bomb thanks to legal ruling A legal ruling about who is actually a Dell investor will save the company a bomb. The legal question decides who the record holder of a stock was and it might seem a simple question, but it was vital to Dell’s privatisation of his company. A Delaware Court of Chancery judge removed several large investors from a consolidated lawsuit stemming from the $24.9 billion buyout of Dell in 2013 by founder Michael Dell and his private equity partner, Silver Lake. Investors who opposed the deal, at $13.75 per share, asked a Delaware judge in 2013 to determine the fair price for the stock, a process known as appraisal. To seek appraisal, shareholders cannot have voted in favour of the proposed buyout, and they have to be a continuous holder of record through the date of the deal. http://www.techeye.net/business/dell...o-legal-ruling

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