The gist of their position: This is the best deal we would come up with.
Here's the complete statement:
"In the course of its deliberations, the Special Committee of Dell’s Board considered an array of strategic alternatives. In addition to working through financial and capital-allocation issues with its independent financial advisors, the Committee 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 transaction offers an attractive and immediate premium for stockholders and shifts the risks facing the business to the buyer group. In addition, and importantly, the go-shop process provides stockholders an opportunity to determine if there are alternatives that are superior to the present offer."
The investors opposing the deal as structured would no doubt that argue that in addition to shifting the risks to the buyer group, it also shifts all of the potential benefits, as well. This is not over, not by a long ways.
- Mergers, Acquisitions & Takeovers
- institutional investors