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Dell claims buyout in shareholders' 'best interests'

Published on Feb 12, 2013 6:49 AM
A man wipes the logo of the Dell IT firm at the CeBIT exhibition centre in Hannover in this Feb 28, 2010, file photo. -- PHOTO: REUTERS

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.

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