Dell is a Texas-based technology company founded by Michael Dell, and is the third largest PC maker in the world after HP and Lenovo. In early 2013, it announced plans for a leveraged buyout by its founder, in partnership with a group of investors and Microsoft.
Dell brings forward Q2 results release to Thursday
Dell plans to release quarterly results on Thursday, publishing the numbers almost a week earlier than anticipated.
The company, which chief executive Michael Dell and partner Silver Lake have proposed buying and taking private for US$25 billion, said in a statement it will announce financial results August 15 after the market closes. They had previously been scheduled for August 20.
“We decided to accelerate the results announcement in light of the heightened interest in the company,” spokesman David Frink said without elaborating.
The results will come a day before a Delaware court hears activist investor Carl Icahn’s opposition to the chief executive’s offer. Icahn, who leads a shareholder movement to try and derail that deal, wants the court to expedite a hearing on a lawsuit he filed this month.
The hedge fund billionaire is suing to try and force the company to hold a special vote on the offer the same day as its annual general meeting, arguing such an arrangement will compel the chief executive and Silver Lake to put their best, final offer on the table for shareholders. A special vote on the buyout will be held on September 12.
Frink said the early release had no relation to the pending case.