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Wednesday, May 15, 2013

Highfields, other funds dove into Dell fray in 1st quarter, (NASDAQ: DELL)

Several top stock-picking hedge funds bought about 30 million shares of PC maker Dell Inc in the first quarter, possibly increasing pressure on company founder Michael Dell to improve his bid to take the company private.Dell is embroiled in a leveraged takeover deal proposed in February at $13.65 a share by its founder and private equity firm Silver Lake Partners. But the price has upset some of the company's largest shareholders.Boston-based Highfields Capital, run by former Harvard endowment manager Jonathon Jacobson, bought 23 million shares of Dell in the first quarter, according to a securities filing on Wednesday. The activist hedge fund often presses for improvements from companies in which it invests.Jeffrey Altman's Owl Creek Asset Management also bought 4 million shares and Farallon Capital Management, led by Andrew Spokes, took a new 2.46 million-share position in the first quarter.

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 0.15% or $-0.02/share to $13.45. In the past year, the shares have traded as low as $8.69 and as high as $16.61. On average, 32552600 shares of DELL exchange hands on a given day and today's volume is recorded at 12359280.