Investment advisory firm ISS has recommended Dell Inc shareholders vote in favor a $24.4 billion offer for the PC maker from founder and Chief Executive Michael Dell, the company's special committee said on Monday.Michael Dell, whose offer is backed by equity financing from takeover firm Silver Lake, does not plan to raise the $13.65 per share bid, people familiar with the matter said last week.Billionaire Carl Icahn and Southeastern Asset Management have made a rival bid that would see shareholders tender 1.1 billion shares at $14 each.ISS said Michael Dell's offer "transfers the risk of the deteriorating PC business and the company's ongoing business transformation to the buyout group."
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 $13.03. In the past year, the shares have traded as low as $8.69 and as high as $14.64. On average, 20583300 shares of DELL exchange hands on a given day and today's volume is recorded at 6123044.
Source
