維權(quán)投資者稱競購戴爾方案近期出爐
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????戴爾公司（Dell Inc.）特別委員會日前正式建議接受邁克爾?戴爾和銀湖資本（Silver Lake Partners）給出的每股13.65美元的全面收購出價，并宣布股東投票將于7月18日進行。 ????這沒什么可奇怪的，因為事實上并沒有其他出價。聯(lián)合持有戴爾近13%股權(quán)的卡爾?伊坎和東南資產(chǎn)管理公司（Southeastern Asset Management）曾表示，當前的出價不夠高，他們打算出價12美元收購（其中也包括公共股權(quán)存根）。 ????但迄今為止，一直嚷嚷要收購的伊坎和東南資產(chǎn)管理公司并沒有給出一個獲得完全融資的出價。他們也沒有選定關(guān)鍵的管理層接班人，包括誰將接替現(xiàn)任CEO邁克爾?戴爾，這一點對于公眾股權(quán)存根的持有人意義重大。 ????那么，伊坎和東南資產(chǎn)管理公司還打算付諸行動嗎？ ????據(jù)東南資產(chǎn)管理公司稱，答案是肯定的。上周五下午，東南資產(chǎn)管理公司向戴爾股東發(fā)了一封公開信，要求他們“暫緩簽署或回復......戴爾發(fā)送的股票代理授權(quán)書”。公開信還表示，它將在“不遠的將來”提出自己的代理權(quán)聲明。 ????伊坎沒有在這封信上簽字，但公開信一再提到伊坎，伊坎自己也多次表示雙方正在攜手努力。 ????東南資產(chǎn)管理公司的公開信沒有解釋為什么推遲了出價，但人們回響，這家公司可能還沒有湊足52億美元的債務(wù)融資（此項融資由Jefferies牽頭）。 ????這就是現(xiàn)在的狀況。“不遠的將來”就會出現(xiàn)對戴爾的競爭性收購要約。換句話說，收購戴爾的長篇連載現(xiàn)在還遠遠沒到結(jié)束的時候...... |
????Dell Inc.'s special committee today formally recommended the $13.65 per share buyout offer from Michael Dell and Silver Lake Partners, and announced that the shareholder vote will take place on July 18. ????No big surprise there, given that there isn't actually another offer on the table yet. Carl Icahn and Southeastern Asset Management -- which hold a combined stake of nearly 13% in Dell (DELL) -- have said that the current offer is insufficient, and that they plan to propose a $12 per share deal that also includes stub equity. ????But to date, Icahn and SAM have made a lot of noise without putting together a fully-financed offer. They also haven't identified key management hires, including who would replace CEO Michael Dell, which would matter a lot to holders of the public stub. ????So do Icahn and SAM ever plan to actually put their words into action? ????According to SAM, the answer is yes. This afternoon it released an open letter to Dell shareholders, asking them to "refrain from signing or returning... any proxy card sent to you by Dell." It also said that it will make its own proxy statement available to stockholders "in the near future." ????The letter is not co-signed by Icahn, but he is name-checked repeatedly and Icahn has repeatedly acknowledged that the two are working together. ????SAM's letter gives no explanation for the hold up, although one would imagine that it hasn't yet been able to cobble together the $5.2 billion debt package (which is being led by Jefferies). ????So there you have it. There will be a rival bid for Dell "in the near future." In other words, this long saga isn't quite over yet... |
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