Another major Dell shareholder is opposing the company's proposed $24.4 billion sale to a group led by its founder and CEO.
Mutual fund firm T. Rowe Price came out against the deal in a statement issued Tuesday.
T. Rowe Price Chairman Brian Rogers says the price of $13.65 per share undervalues Dell Inc., a struggling computer maker whose stock has sunk in recent years amid doubts about the company's ability to diversify beyond the slumping PC industry.
Dell must now overcome the resistance of its two largest independent shareholders to gain approval to complete the sale to CEO Michael Dell and investment firm Silver Lake.
Southeastern Asset Management lashed out at the deal last week. The firm contends Dell is worth should sell for nearly $24 per share.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to firstname.lastname@example.org. Please provide detailed information.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or email@example.com.