ROUND ROCK, Texas - - Dell's largest stockholder, aside from the struggling personal computer maker's CEO and founder, is trying to thwart the company's plans to sell itself for $24.4 billion.
The opposition mounted Friday by Southeastern Asset Management Incorporated could complicate CEO Michael Dell's efforts to end the firm's 25-year history as a publicly traded company. Southeastern Asset owns an 8.5 percent stake in Dell.
Under a plan announced earlier this week, Dell will pay existing stockholders $13.65 per share. The deal would leave the Round Rock, Texas-based company under the control of founder and CEO Michael Dell and investment firm Silver Lake.
In a letter to Dell's board, Southeastern CEO O. Mason Hawkins dismissed Dell's proposed sale price as "woefully inadequate," contending that the company is worth at least $24 per share.