Dell says proxy firms recommend Michael Dell's offer

Reuters News
Posted: Sep 03, 2013 9:36 AM

(Reuters) - Dell Inc said proxy advisory firms Institutional Shareholder Services (ISS), Glass Lewis and Egan Jones recommended that shareholders vote for founder Michael Dell's offer to take the company private.

Last month, the PC maker agreed to Michael Dell's raised offer of $13.75 per share and a special dividend of 13 cents.

"Each (proxy firm) has conducted an independent review of the amended merger agreement and all of its terms and concluded, as has the Special Committee, that a sale of Dell for $13.88 per share in cash serves the best interests of Dell shareholders," Dell said in a statement.

Dell shares were marginally up at $13.79 in early trading on Tuesday on the Nasdaq.

(Reporting by Neha Alawadhi in Bangalore; Editing by Saumyadeb Chakrabarty)