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Michael Delli

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.

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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.

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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.