Friday, March 29, 2013

Daily News: Reuters Technology News Headlines - Timeline: The long path to a Dell buyout

Friday, Mar 29, 2013 06:45 PM PDT

Timeline: The long path to a Dell buyout 
Friday, Mar 29, 2013 06:45 PM PDT
By Poornima Gupta and Greg Roumeliotis SAN FRANCISCO/NEW YORK (Reuters) - Dell Inc founder Michael Dell's efforts to take the PC company private began last summer with an idea pitched by its top institutional shareholder, Southeastern Asset Management. Here is a timeline of the discussions as disclosed on Friday in Dell's preliminary proxy statement: June 15, 2012 -- Southeastern Asset Management, which owns 146.5 million shares or about 8.4 percent of Dell, contacts CEO Michael Dell to suggest "a going private transaction" and expresses the fund's interest in participating in it. ...
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Dell warns of risks of remaining a public company 
Friday, Mar 29, 2013 03:34 PM PDT
Michael Dell Chairman and CEO of Dell Inc arrives for the launch event of Windows 8 operating system in New YorkBy Greg Roumeliotis and Poornima Gupta NEW YORK/SAN FRANCISCO (Reuters) - Dell Inc warned on Friday that it would be dangerous to take on a lot of debt and remain a public company given its worsening profit outlook, in a sign that it views proposals from Blackstone Group LP and billionaire investor Carl Icahn as fraught with risk. The No. 3 maker of personal computers published a 274-page preliminary proxy statement to inform Dell shareholders of how a $24. ...
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BlackBerry wins dismissal of U.S. shareholder lawsuit 
Friday, Mar 29, 2013 02:38 PM PDT
An illustrative photo shows Blackberry smartphoneBy Nate Raymond NEW YORK (Reuters) - A U.S. shareholder lawsuit accusing smartphone manufacturer BlackBerry of seeking to fraudulently obscure its falling market position was dismissed on Friday. U.S. District Judge Richard Sullivan in Manhattan granted the company's motion to dismiss the proposed class-action lawsuit, finding the plaintiffs failed to adequately allege that the company or various executives had made deliberate and material misstatements. ...
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Analog Devices CEO dies of apparent heart attack 
Friday, Mar 29, 2013 01:58 PM PDT
(Reuters) - Chipmaker Analog Devices Inc said its long-time Chief Executive Officer Jerald Fishman died on Thursday evening, following what appeared to be a heart attack. Fishman was 67. "This is a terrible loss for me personally and for all of us here at ADI," said Ray Stata, chairman of the board. "Jerry dedicated his entire career to building ADI into a great company one of which we all are enormously proud. Fishman, who joined Analog Devices in 1971 and rose through the ranks to become its chief executive Officer in 1996. ...
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Dell says leveraged recap would be risky 
Friday, Mar 29, 2013 01:18 PM PDT
NEW YORK/SAN FRANCISCO (Reuters) - Dell Inc said on Friday a leveraged recapitalization would be fraught with risks for the computer maker and would be unlikely to offer as much value as the $13.65-per-share buyout agreed with founder Michael Dell and the private equity firm Silver Lake Partners. The analysis was part of a preliminary proxy statement published on Friday to inform Dell shareholders of how the $24.4 billion deal was put together, as well as what alternatives the company's board explored before it approved the deal. Under the deal, Michael Dell and his investment firm will own ...
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Proxy firms pile on pressure for better MetroPCS-T-Mobile deal 
Friday, Mar 29, 2013 12:58 PM PDT
Signage for a T-Mobile store is pictured in downtown Los Angeles, CaliforniaBy Sinead Carew NEW YORK (Reuters) - Proxy advisor Glass Lewis on Friday became the second firm to suggest that MetroPCS Communications Inc shareholders vote against a proposed merger with T-Mobile USA, adding pressure on Deutsche Telekom AG to sweeten the deal. The move by No. 2 proxy firm Glass Lewis backs efforts by two key activist investors to block the deal, the day after leading proxy firm ISS said shareholders should vote against the deal with T-Mobile USA, the U.S. business of Deutsche Telekom. ...
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Russia's MTS acquires stake in parent's bank 
Friday, Mar 29, 2013 05:28 AM PDT
A man walks past an MTS shop in St.PetersburgMOSCOW (Reuters) - Russia's top mobile phone operator MTS said on Friday it has acquired a 25.1 percent stake in MTS Bank for 5.1 billion roubles ($164 million) by buying additional shares issued by the bank. The deal was concluded in accordance with the terms of an indicative offer between MTS, MTS Bank and their majority shareholder Sistema that were announced in October 2012. MTS now owns around 27 percent of MTS Bank, Sistema has a 65.3 percent stake, while the balance of shares is held by other minority shareholders, MTS said in a statement. ($1 = 31. ...
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Japan's NEC in talks to sell mobile phone unit to Lenovo: source 
Thursday, Mar 28, 2013 10:13 PM PDT
A man looks at NEC Corp's computer displayed at an electronics store in TokyoTOKYO (Reuters) - Japan's NEC Corp is in talks to sell its struggling mobile phone unit to its personal computer venture partner Lenovo Group Ltd, a source familiar with the discussions said, confirming media reports of the negotiations. NEC is also in talks with potential domestic buyers, the source said on condition that he wasn't identified. NEC has until now said its mobile business is an important part of its overall operations. But after two years of losses the company is shedding assets to bolster profitability. ...
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