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Dell Computer Corporation (DELL) Message Board

  • come_to_grief come_to_grief Mar 1, 2013 8:21 AM Flag

    Dividend

    Announcement next week? It's about time for public release...another $0.08 or MORE?

    Last BOD public notice was 06 December 2013...unlike many other companies DELL did not distribute a Special Dividend to shareholders...a method that would have provided some tax advantages to higher income shareholders. Michael Dell wanted that money kept on the books to assist in his business case to try and buy DELL outright (along w/PE Guys) on the cheap. Of course the offer is insufficient, and needs to be ante upped to get approval of the unaffiliated shareholders.

    Interesting that DELL now trades close to $14...higher than the $13.65 initial offer/well above the $12.50 BASHFORD line...we're half way (Calendar Day 24) through the 45 day "go shop" cycle...will there be one or more counter bids made?...Regardless, DELL & PE Guys need to make a decision soon or face rejection of the $13.65 bid.

    CTG

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    • Announcement within days...another $0.08 or more?

      CTG

    • There is one guarantee here; there will be no other bids. The current offer will be raised, or it will be rejected.

      • 2 Replies to plasma181
      • Perhaps, the prospect of another bid may be remote...Yet, guarantee is too strong with time remaining in shop cycle. I'd acquiesce that no other PE team will submit a bid...that group is too tightly knit...but I wouldn't rule out a strategic buyer (Lenovo?) wanting to join the fray.

        Michael Dell & Silver Lake probably waiting out the shop cycle, in case another bid surfaces; then will up the ante with a new price predicated on a competing offer or not. The prospect of a rejection of the $13.65 offer is too daunting for the team.

        CTG

      • I still think an offer could be coming. Since there is a 45 day wait period, there is no reason to make an offer until the 45 days is over, about March 20. Or they could wait until after the "no" vote.
        I am not saying there will be an offer, but I don't think we can say for sure that there will not be. There is a lot of cheap money out there AND many of these companies have huge cash reserves: Apple has $145 billion; google has north of $50 billion etc., Oracle has about $50 billion in short term investments and cash, etc.
        The worse that could happen is there is a no vote, we get a new board and MDell is fired, followed by someone who is competent.

 

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