Independent major shareholder of the United States Southeast Asset Management company against privatization

Abstract: According to foreign media reports, the source revealed in Thursday, Dell will be disclosed next week, the company's largest independent shareholder, the United States Southeast Asset Management company (Southeastern Asset Management) was originally interested in joining the proposed leveraged buyout deal, but the company is

According to foreign media reports, sources revealed in Thursday that Dell will disclose next week that the company's largest independent shareholder, southeastern Asset Management, was initially interested in joining the proposed leveraged buyout deal, although the company is now openly opposed to the deal.

Sources said that January 29, that is, Dell founder Michael Dell and private equity group Silver Lake Capital of the consortium announced that will be 24.4 billion U.S. dollars to privatize Dell Company the week before, Southeast Asset Management company and its lawyers and Dell independent director Alex Mandel (Alex MANDL) held talks. Mandel is one of the members of the Special Committee to evaluate the company's strategic options. The meeting also included legal advisers to the Special Committee-law firms Debevoise & Plimpton LLP.

The source said the company said at the meeting that it was interested in a deal to privatize Dell and continue to hold Dell shares. South East Asset Management also said the company would oppose a deal with a purchase price of less than $15 per share if it was unable to participate in the privatisation deal. Dell announced on February 5 that the privatization price proposed by Michael Dell and Silver Lake was $13.65 per share. Dell is expected to release the news as soon as next Monday. South East Asset Management is currently holding a 8.5% per cent stake in Dell.

To date, a spokesman for Dell and the southeast Asset management company has not been able to cover this report. South East Asset Management has previously publicly stated that Dell is worth at least 24 dollars per share and has been trying to persuade other shareholders against Dell's privatisation deal.

According to sources, the purchase documents submitted by Dell will show that southeast Asset management is currently trying to stifle the privatisation that it had hoped to take part in. But sources close to the southeast asset management company say their private conversations are not exactly in line with the public statements made by Dell. Because Southeast Asset Management said in an open letter to Dell's board of directors this February 8, "We want the board to perform its role and thoroughly assess all options to maximize the value of the shareholders in the Dell Public equity unit." We will support a reform-capable transaction that provides fair and fair value to the shareholders of Dell's public shares, including debt-financed recapitalisation or privatisation-type sales, and Dell shareholders can continue to participate in the new company. ”

Dell's board has previously approved Silver Lake's proposal for a privatisation deal and set a 45-day "bid term" (Go-shop Period) to find out if there are any better options to surface. The deadline for "bid term" is Saturday.

The Southeast Asset management company invested about $2 billion in the Dell stock, with an average stake of $16.88. According to the current privatization price, the Southeast asset management company will lose nearly 400 million dollars. Carl Icahn, a billionaire Icahn, is also openly opposed to Dell's privatisation deal. Icahn believes that Dell should be indebted to shareholders to distribute a special dividend of 9 dollars per share. Icahn did not disclose his holdings, but the financial news channel CNBC reported on March 6 that Icahn currently holds about 100 million shares of Dell, accounting for about 6% of the company's total equity.