The largest U.S. shareholder advisory firm recommended on Monday that Dell Inc stockholders vote in favor of Chief Executive Michael Dell's $24.4 billion takeover offer, increasing the odds of his prevailing against billionaire investor Carl Icahn's rival bid.Dell shareholders are scheduled to vote on the offer July 18. Several large investors have been pushing for improved terms."The ISS seal of approval makes the Silver Lake/Michael Dell deal more likely to receive shareholder approval," Brian White, analyst at Topeka Capital Markets said, adding that ISS views Icahn's bid "as coming with too much uncertainty."Institutional Shareholder Services Inc is the biggest shareholder advisory firm, and its recommendations can sway investors looking for direction.
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 2.99% or $0.39/share to $13.42. 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 36288240.
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