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Delaware's Supreme Court ruled on Thursday that a lower court erred in finding that the 2013 buyout of computer maker Dell Inc was vastly underpriced, in an opinion that will likely restrict a hedge fund strategy aimed at wringing cash from mergers. Thursday's ruling stems from an "appraisal" lawsuit, which allowed Dell shareholders who opposed the $24.9 billion buyout to ask a judge to determine the fair value of their stock. Last year, a Delaware Court of Chancery judge ordered Dell to pay Magnetar Capital and other Dell investors $17.62 for each of their 5.5 million shares, well above the $13.75 per share deal price paid by Michael Dell and Silver Lake Partners.
MADISON, Wis. (AP) — The Wisconsin Assembly sent a $3 billion incentive package for Taiwan-based Foxconn to Gov. Scott Walker on Thursday, signing off on a deal to lure the electronics giant to the state with the biggest subsidy to a foreign company in U.S. history.
Dec.01 -- Pat Gelsinger, VMware's chief executive officer, discusses the company's growth drivers and its partnerships with Amazon Web Services and Dell. He speaks with Bloomberg's Emily Chang on "Bloomberg Technology."