News Summary: Dell deal faces more opposition

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Associated Press

Posted on February 12, 2013 at 9:00 PM

Updated Tuesday, Feb 12 at 9:02 PM

RILED SHAREHOLDERS: Another major Dell shareholder is opposing the struggling computer maker's proposed $24.4 billion sale to the company's founder and other investors. The resistance announced Tuesday by mutual fund firm T. Rowe Price comes after Southeastern Asset Management lambasted the deal last week.

THE GRIEVANCE: Both T. Rowe Price and Southeastern contend Dells' founder and CEO, Michael Dell, and investors led by Silver Lake should be required to pay more than the $13.65 per share being offered under the current agreement.

WALL STREET WAGERING: Investors seem to think a higher bid will come. Dell's stock gained 9 cents Tuesday to close at $13.79.

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