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Dell shareholders give CEO, Silver Lake green light for biggest LBO since 2007

12 Sep 2013

delllThe Dell buyout saga is finally over after founder and CEO Michael Dell and private equity firm Silver Lake secured shareholder approval for their $24.4bn take-private offer.

Earlier this week billionaire investor Carl Icahn, who previously teamed up with buyout firm Southeastern to make a rival offer, ended his pursuit of the computer maker.

Icahn has made several attempts to derail Dell’s bid which included filing a lawsuit to prevent the board from changing the terms of shareholder voting for the buyout vote.

It came after reports said Dell and Silver Lake expected the bid to fail if no changes were made to the voting standard.

The company’s shareholders were initially scheduled to vote on the deal in July, but it was delayed to give the board more time to secure support for the buyout.

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