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Tuesday, February 12, 2013

T. Rowe Price says it will not support Dell buyout, (NASDAQ: DELL)

Money manager T. Rowe Price Group , one of the largest shareholders of computer maker Dell Inc, said it would not support Dell's leveraged takeover offer. "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.

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 0.73% or $0.1001/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 17043132.