Michael Dell

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’s quarterly profit plummets as PC sales shrink

Dell has come under increasing pressure from mobile computing in recent years. Photo: AP

Dell, the PC maker embroiled in a takeover battle between its founding chief executive and activist investor Carl Icahn, on Thursday reported a 72 per cent slide in quarterly earnings as PC sales extended their downward spiral.

Friday, 16 August, 2013, 9:41am

Dell buyout vote delayed amid Icahn-led shareholder mutiny

Michael Dell

Dell postponed a crucial vote on CEO Michael Dell’s US$24.4 billion buyout offer to July 24, buying time to solicit more proxy votes and drum up more support despite winning over several large swing shareholders at the eleventh hour.

19 Jul 2013 - 4:46am

Dell founder stands firm on buyout offer as vote delay mulled

Dell shareholders vote on Thursday whether to approve the privatisation bid for the world’s third biggest computer maker. Photo: AP

Dell founder Michael Dell and his private equity partner Silver Lake would not raise their US$24.4 billion (HK$189.3 billion) bid for the world’s No. 3 PC maker even if a vote on their offer is delayed, two people familiar with the matter said.

17 Jul 2013 - 11:59am

Icahn urges Dell shareholders to seek higher price in court

Michael Dell is offering US$24.4 billion (HK$189.3 billion) to buy the company he founded in a US college dorm. Photo: Reuters

Billionaire investor Carl Icahn plans to seek a higher price for his Dell shares in court and urged other investors to do the same, in an effort to block Dell founder Michael Dell’s US$24.4 billion (HK$189.3 billion) buyout offer ahead of a key shareholder meeting.

11 Jul 2013 - 12:18pm

Blackstone backs out of Dell bid as PC sales fall

The company was founded by Michael Dell. Photo: AP

Blackstone pulled out of bidding for Dell amid concerns about the personal-computer maker's finances and the worsening outlook for global PC sales.

In a letter to Dell's board, Blackstone cited an "unprecedented" 14 per cent market decline in PC volume in the first quarter, according to a statement yesterday.

20 Apr 2013 - 2:44am

Dell's stagnant sales raise pressure for buyout

The computer giant's fortunes have dwindled amid falling PC sales and stiffer competition, but its CEO says going private offers the business a way back to growth. Photo: Reuters

The firm's sales for the year ending in January will slip to US$56.5 billion, and Dell's PC business will shrink by US$10 billion over four years, according to projections in a proxy statement filed with regulators. Its operating income will be stagnant at US$3 billion, according to the documents, which shed light on a US$24.4 billion buyout proposal led by private-equity firm Silver Lake Management and plans by CEO Michael Dell to accelerate a turnaround after going private.

2 Apr 2013 - 4:44am

For whom the Dell tolls

Michael Dell, chairman and chief executive officer of Dell. Photo: Bloomberg

Michael Dell, the reclusive founder of Dell, the world's third-largest PC maker, is controversially trying to privatise his company, and will take on a US$16 billion debt to do so.

18 Feb 2013 - 4:13am