Dell Inc's third-largest shareholder, T. Rowe Price Group, on Tuesday joined a growing number of investors putting pressure on Michael Dell and his partner Silver Lake to sweeten their $24.4 billion takeover offer for the PC maker."We believe the proposed buyout does not reflect the value of Dell, and we do not intend to support the offer as put forward," T. Rowe Chief Investment Officer Brian Rogers said in a statement.The money manager, which declined further comment, controlled 4.4 percent of Dell shares as of Sept. 30, according to Thomson Reuters data.The company has said it needs a majority of investors, excluding Chief Executive Michael Dell's 14 percent stake, to approve the transaction. With T. Rowe added to the list, at least six investors with more than 18 percent of Dell shares, excluding Dell's stake, have now said they oppose the deal.
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 0.77% or $0.105/share to $13.80. In the past year, the shares have traded as low as $8.69 and as high as $18.36. On average, 38283300 shares of DELL exchange hands on a given day and today's volume is recorded at 28157140.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.33% or $0.1/share to $30.72. In the past year, the shares have traded as low as $26.20 and as high as $31.18. On average, 744076 shares of TRI exchange hands on a given day and today's volume is recorded at 1089100.
Thomson Reuters Corporation (Thomson Reuters) is a provider of information for the world?s businesses and professionals. Shares of TRI traded higher by 0.29% or $0.09/share to $30.81. In the past year, the shares have traded as low as $26.65 and as high as $31.22. On average, 826789 shares of TRI.TO exchange hands on a given day and today's volume is recorded at 731204.
Source
