Michael Dell's attempt take the ailing PC vendor private appears to have hit a major stumbling block as shareholders could reject the proposal.
Dell's plan to pay $13.65 per share was expected to be passed by shareholders during a vote today. However, WSJ sources suggest that a trio of prominent stakeholders in the form of the Vanguard Group, State Street and BlackRock will oppose Dell's offer in an attempt to get him to increase his bid.
There are also concerns over whether existing CEO Michael Dell is the right person to help lead the firm's transformation from a PC vendor to a one-stop shop for enterprises.
The shareholder vote could be adjorned as Dell and his advisers look to convince shareholders to accept his proposal.
Reports suggest Dell is unwilling to increase his offer to retain control of the company he started in his dorm room at the University of Texas.
Meanwhile, Dell's second largest shareholder Carl Icahn claims his bid to buy shares reflects the true value of the company. With a deal involving a share buy-back scheme, Icahn claims his proposal is worth between $15.50 and $18 per share.
If his bid is successful, Icahn will take control of Dell, remove Michael Dell as CEO and also look to replace the board.
Updated 18/7/2013
Dell has confirmed that the its Special Meeting of Stockholders has been adjourned to "provide additional time to solicit proxies from Dell stockholders".
No vote has been taken and the Special Meeting will reconvene on 24 July, 2013 at 5 p.m. CDT.
-
What the shift to 'tiny teams' could mean for software engineersNews The influx of AI tools means many firms could create smaller, more agile teams to speed up development processes
-
Apple’s iOS update cycle overhaul: How security teams should reactApple’s more rapid approach to patch releases follows a wider industry trend. What can security leaders do to keep up?
-
Three things I expect to see at Dell Technologies World 2026, and one I don’tOpinion These are my predictions for the big talking points at this year’s Dell Technologies World
-
Dell Technologies eyes fresh market opportunities with 2026 partner programNews The tech giant has updated its channel program with new incentives and initiatives to drive partner growth
-
Productivity gains on the menu as CFOs target bullish tech spending in 2026News Findings from Deloitte’s Q4 CFO Survey show 59% of firms have now changed their tune on the potential performance improvements unlocked by AI.
-
Computacenter enters the fray against Broadcom in Tesco's VMware lawsuitNews The IT reseller has added its own claim against Broadcom in VMware case brought by Tesco
-
Who is John Roese?Dell's CTO and Chief AI Officer John Roese brings pragmatism to AI
-
Meta layoffs hit staff at WhatsApp, Instagram, and Reality Labs divisionsNews The 'year of efficiency' for Mark Zuckerberg continues as Meta layoffs affect staff in key business units
-
Business execs just said the quiet part out loud on RTO mandates — A quarter admit forcing staff back into the office was meant to make them quitNews Companies know staff don't want to go back to the office, and that may be part of their plan with RTO mandates
-
Amazon workers aren’t happy with the company’s controversial RTO scheme – and they’re making their voices heardNews An internal staff survey at Amazon shows many workers are unhappy about the prospect of a full return to the office
