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Friday, February 8, 2013

Buyout consortium holding firm on Dell offer -sources, (NASDAQ: DELL)

The takeover consortium led by the founder and chief executive of Dell Inc does not intend to raise its offer for the world's No. 3 PC maker following a letter to the company's board of directors by shareholder Southeastern Asset Management, two people familiar with the matter said on Friday. Michael Dell's consortium believes the offer price of $13.65 per share is a fare premium over where the company's shares traded following its latest published quarterly earnings after the market close on Nov. 15, the people said. Dell's shares ended trading on Nov. 16 at $8.86.Dell and Silver Lake declined to comment.Southeastern, Dell's largest independent shareholder, vowed on Friday to fight a $24.4 billion buyout of the Round Rock, Texas-based company, raising doubts about what would be the largest buyout since the start of the financial crisis.

Dell, Inc. (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Shares of DELL traded higher by 0.74% or $0.1/share to $13.63. In the past year, the shares have traded as low as $8.69 and as high as $18.36. On average, 37628600 shares of DELL exchange hands on a given day and today's volume is recorded at 56954064.