Ruh-roh: Dell vote’s in trouble

Image 1 for post Michael Dell needs to follow jkOnTheRun( 2007-10-11 11:31:02)

Remember those reports¬†— some of them right here – that the $24.4 billion deal to take Dell private is done? Well, not so fast.

It’s looking increasingly likely that the vote will be delayed, according to Bloomberg and other reports.¬†

Apparently more institutional investors are weighing in against the proposed buy out, which investor Carl Icahn and others say undervalues the PC-and-server maker. T. Rowe Price, for example, reiterated its rejection of the $13.65-per-share deal put on the table earlier this year by Dell founder Michael Dell and Silver Lake Partners.

Last week, the proposed buyout got a leg up when a major shareholder advisory firm, Institutional Shareholders Services, signaled its support for the deal. 

Stay tuned for updates.

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