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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