Dell saves bomb thanks to legal ruling
 

A legal ruling about who is actually a Dell investor will save the company a bomb.

The legal question decides who the record holder of a stock was and it might seem a simple question, but it was vital to Dell’s privatisation of his company.

A Delaware Court of Chancery judge removed several large investors from a consolidated lawsuit stemming from the $24.9 billion buyout of Dell in 2013 by founder Michael Dell and his private equity partner, Silver Lake.

Investors who opposed the deal, at $13.75 per share, asked a Delaware judge in 2013 to determine the fair price for the stock, a process known as appraisal.

To seek appraisal, shareholders cannot have voted in favour of the proposed buyout, and they have to be a continuous holder of record through the date of the deal.

http://www.techeye.net/business/dell...o-legal-ruling