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Friday, February 8, 2013

Opposition grows to Dell's landmark $24.4 billion buyout, (NYSE: PZN), (NYSE: TRI), (TSE: TRI.TO)

Three of Dell Inc's largest investors joined Southeastern Asset Management on Friday in objecting to a $24.4 billion takeover of the No. 3 PC maker led by Chief Executive Michael Dell, sources said, as opposition grows to the largest buyout since the start of the financial crisis.Top independent shareholder Southeastern formally voiced its opposition, which Reuters first reported late on Thursday, galvanizing other investors.The sources told Reuters that Harris Associates LP, Yacktman Asset Management and Pzena Investment Management LLC - which together hold 3.3 percent of Dell's outstanding stock according to Thomson Reuters data - now plan to vote against a buyout that would end Dell's turbulent 24-year ride on public markets.That means that four of Dell's 20 largest shareholders harbor misgivings about a deal to take private a company struggling to grow revenue as the global PC industry heads into decline. Dell Inc is now trying to transform itself into a provider of enterprise services in the mold of IBM.

Pzena Investment Management, Inc. is an investment management company. Shares of PZN traded higher by 3.99% or $0.25/share to $6.51. In the past year, the shares have traded as low as $3.68 and as high as $7.39. On average, 25177 shares of PZN exchange hands on a given day and today's volume is recorded at 31432.

Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI fell by 0.03% or $-0.01/share to $30.69. In the past year, the shares have traded as low as $26.20 and as high as $31.18. On average, 755842 shares of TRI exchange hands on a given day and today's volume is recorded at 478006.

Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.46% or $0.14/share to $30.76. In the past year, the shares have traded as low as $26.47 and as high as $31.22. On average, 835825 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 529217.



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