Dell claims buyout in shareholders' 'best interests'
NEW YORK (AFP) - Dell said Monday its proposed US$24.4 billion (S$30.21 billion) private equity buyout plan is "in the best interests of stockholders", brushing aside criticism from a key investor that it undervalues the tech giant.
In a statement filed with securities regulators, Dell released a brief comment which it said was in response to inquiries on the matter.
It said a special committee of its board considered "an array of strategic alternatives" and had "retained a prominent management consultant to help it assess the company's strategic position".
"Based on that work, the board concluded that the proposed all-cash transaction is in the best interests of stockholders," the statement said.