Deals
Dell Buyout Lacks Support as T. Rowe Joins Southeastern
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Dell Inc.’s plan to be taken private lacks support from two of the company’s largest shareholders after T. Rowe Price Group Inc. said it won’t back the $24.4 billion transaction.
T. Rowe, the second-largest outside investor, said today that the proposal places too low a value on Round Rock, Texas-based Dell. That came after top outside shareholder Southeastern Asset Management sent a Feb. 8 letter to Dell’s board expressing “extreme disappointment” with the $13.65-a-share offer.