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Friday, February 8, 2013

Dell's largest investor opposes buyout as too low, (NASDAQ: DELL)

Dell Inc's largest independent shareholder, Southeastern Asset Management, said it plans to oppose the move by a consortium led by founder Michael Dell to take the personal computer maker private.Southeastern sent a letter to Dell's board expressing its "extreme disappointment" in the offer price of $13.65 a share, it said in a regulatory filing.It said it "currently intends to avail itself of all options at its disposal to oppose proposed transaction."Reuters had reported earlier that the Southeastern was unhappy with the offer.

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 0.37% or $0.05/share to $13.58. 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 38774176.