Michael Dell urges shareholders to take his offer

By: From Wire Reports
By: From Wire Reports

NEW YORK (AP) - Dell Inc. CEO Michael Dell has urged shareholders of the Round Rock-based computer company he founded to vote in favor of his offer to take it private.

Dell said in a regulatory filing Friday that taking the company private will make it easier to transform from a PC-focused business to one focused on business software, data storage and services.

The filing comes the same week that investor Carl Icahn proposed a $16 billion share buyback. Icahn is the company's second-largest shareholder after buying 72 million shares from fellow activist investor Southeastern Asset Management Inc.

The Dell board of directors has recommended that shareholders vote for the $24.4 billion offer from Michael Dell and the investment firm Silver Lake Partners.

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