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Friday, March 29, 2013

TIMELINE-The long path to a Dell buyout, (NASDAQ: DELL)

Dell Inc founder Michael Dell's efforts to take the PC company private began last summer with an idea pitched by its top institutional shareholder, Southeastern Asset Management. Here is a timeline of the discussions as disclosed on Friday in Dell's preliminary proxy statement :June 15, 2012 -- Southeastern Asset Management, which owns 146.5 million shares or about 8.4 percent of Dell, contacts CEO Michael Dell to suggest "a going private transaction" and expresses the fund's interest in participating in it.July 17 -- Michael Dell meets a representative of private equity firm Silver Lake Partners at a conference and they set up discussions in August. In these talks, Silver Lake suggests to Dell's founder he should take the company private.Aug. 11, 13 -- Michael Dell meets with a representative of another private equity firm, identified in the proxy only as "Sponsor A," to ask what it thought of such a transaction. Sources told Reuters Sponsor A is private equity firm KKR & Co LP. KKR declined to comment.

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 fell by 0.07% or $-0.01/share to $14.33. In the past year, the shares have traded as low as $8.69 and as high as $16.85. On average, 38457100 shares of DELL exchange hands on a given day and today's volume is recorded at 22144804.