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Tuesday, March 5, 2013

Top outside shareholder demands Dell open its books, (NASDAQ: DELL)

Dell Inc's largest outside shareholder is demanding the PC maker open its books, signaling that it could become more active in opposing founder Michael Dell's proposal to take the company private. Southeastern Asset Management, which holds more than 8 percent of Dell shares including options, asked for the records in a regulatory filing Tuesday on behalf of its largest client, Longleaf Partners Fund.Citing Dell's silence on the deal during a recent earnings call, Southeastern wrote in the letter to Dell included in the filing that "shareholders should be provided with meaningful, straightforward information."A representative for Dell was not immediately available to comment.A growing number of Dell investors, including T. Rowe Price Group, are unhappy with Michael Dell and his partners' plan to take the company private for $24 billion.

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 remained unchanged at $14.00. In the past year, the shares have traded as low as $8.69 and as high as $17.46. On average, 36612300 shares of DELL exchange hands on a given day and today's volume is recorded at 16800.