Michael Dell clinched shareholder approval on Thursday for his $25 billion offer to purchase and take Dell Inc private, ending months of conflict with the company's largest investors and removing the uncertainty surrounding the world's No. 3 PC maker.Shareholders cast their votes at a special meeting on Thursday morning in Austin, Texas. Based on preliminary results, the takeover won their go-ahead and the deal is expected to close before the end of Dell's fiscal third quarter.The company's pace of internal transformation should now quicken. Sealing the deal should also assuage customers who have grown wary of the company's direction during a very public battle that pit major Wall Street players Icahn, Southeastern Asset Management and T. Rowe Price against the CEO."Once the deal is consummated, they can move on and close some of the large infrastructure deals they've been working on. I do think there's been a bit of a pause," said Cross Research analyst Shannon Cross.
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 0.04% or $0.005/share to $13.86. In the past year, the shares have traded as low as $8.69 and as high as $14.64. On average, 23964000 shares of DELL exchange hands on a given day and today's volume is recorded at 7795027.
Source
