Three shareholders of Dell Inc planned to vote against founder Michael Dell's takeover bid. The three shareholders of the company collectively hold about 3% of the computer maker's shares. The said shareholders questioned proxy adviser, Institutional Shareholder Services (ISS) sway with Dell Inc's shareholders.
The three shareholders included Highfields Capital Management, Pzena Investment Managemnet and Yacktman Asset Management. Out of the total 1.76 billion shares outstanding of Dell Inc as of March 31, the three own 50.65 million combined shares. This was according to a data from Thomson Reuters.
Highfields Capital Management held a 1.3% stake in Dell Inc. The Boston based firm planned to vote against Michael Dell and Silver Lake's proposal said sources familiar with the matter last Thursday. The sources asked not to be names as they were not allowed to speak to the media.
Last Monday, Pzena Investment Management which held 0.7% stake in the company said to CNBC that it would vote against Dell's buyout offer. The following day, Yacktman Asset Management, which has a 0.85% stake in the PC maker said that it would also vote against the buyout.
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