Daily Digit: 1.75 Bln Shares to Set Dell’s Future
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Your Daily Digit today is 1.75 billion - That's the amount of Dell's outstanding shares. Their owners will sew up Dell's future at a special meeting on July 18th. They're already getting some ideas on how to vote. One just came from Dell's board. The board now recommends shareholders support the $24.4 billion buyout offer led by founder and chief executive Michael Dell. Why?

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Your Daily Digit today is 1.75 billion…. That's the amount of Dell's outstanding shares. Their owners will sew up Dell's future at a special meeting on July 18th. They're already getting some ideas on how to vote. One just came from Dell's board. The board now recommends shareholders support the $24.4 billion buyout offer led by founder and chief executive Michael Dell. Why? The board members say it's the best alternative available, and, as they put it, in a challenging business environment, it offers certainty and a very material premium over pre-announcement trading prices. But Dell's shareholders have another option. Earlier this month, Dell's largest independent shareholder, activist investor Carl Icahn launched a $21 billion counter offer that would allow shareholders to keep their stakes in the company. Icahn is not expected to go quietly -he already warned that if his proposal was rejected -he would urge shareholders to reject Michael Dell's offer.