shareholder

Dell asks shareholders to vote in favor of founder's deal

Michael Dell might soon have his way with the company he founded.

Dell announced today that it has filed materials with the Securities and Exchange Commission (SEC) that will allow it to hold a shareholder meeting on July 18 to approve the transaction Michael Dell and investment firm Silver Lake recently brought to the table. Under the terms of the deal, Michael Dell and Silver Lake, with some help from Microsoft, will acquire all remaining shares in the company that the founder doesn't own for $13.65 per share.

According to Dell, the company's entire board of directors, … Read more

Dell confirms it has two possibly 'superior' buyout bids

Michael Dell might not be as close to taking his company private as originally thought.

Dell's Special Committee of the Board, a team tasked with considering other proposals for the future of its business, confirmed today that it has received two buyout offers. One of those offers comes from investment firm Blackstone and the other from Carl Icahn.

"The Special Committee, consisting of four independent and disinterested directors, has determined, after consultation with its independent financial and legal advisors, that both proposals could reasonably be expected to result in superior proposals, as defined under the terms of the … Read more

HP sidesteps Autonomy drama; Israel-Palestine makes news

Give Hewlett-Packard's management credit for keeping the company's annual shareholders meeting as uneventful as possible. Considering the soap opera drama leading up to today's event, that was no mean feat.

Earlier in the day, Autonomy founder Mike Lynch published an open letter, suggesting questions that shareholders ought to ask of management in connection with the allegations that HP made against Autonomy after paying $11.1 billion to buy the software company. In November, HP shocked Wall Street when it took an $8.8 billion accounting charge related to the acquisition. At the time, the company said that … Read more

Tim Cook doesn't like Apple's falling share price, either

If you're an Apple shareholder and pretty pissed about the company's recent stock drop, you can at least take comfort in knowing you're not alone.

Apple Chief Executive Tim Cook said today during the electronics giant's annual shareholder meeting that he knows people are upset about the stock drop.

"I don't like it either," Cook said. Nor does the board and management, he added.

But what investors are likely still wondering is what Apple is going to do about it. Shares have tumbled roughly 35 percent from their peak in September, and it'… Read more

Tim Cook to shareholders: It was the 'mother of all years'

CUPERTINO, Calif. -- Apple CEO Tim Cook tried to reassure shareholders today, saying that the company was disappointed by its falling stock price but also that Apple is committed to its long-term strategy.

The meeting itself, which took place here this morning, was business as usual.

As expected, shareholders voted to re-elect all eight of Apple's board members. That includes Andrea Jung, Apple's only female board member, who was forced to resign as the chief executive of Avon last year and now serves as a senior adviser for the beauty products company.

The stakes were a bit higher … Read more

Hot topic at Apple shareholders meeting is off limits

Apple opens up its doors to shareholders tomorrow, an annual event that's been home to everything from group renditions of "happy birthday" to environmental protesters donning giant iPod costumes.

It's also home to formalities like re-electing board members, choosing Apple's accounting firm, as well as a chance for executives to dodge the inevitable shareholder questions about products the company is working on.

This year is a little different though. Shareholders were set to vote on something that's no longer on the table following a lawsuit filed against Apple earlier this month.

Greenlight Capital, a … Read more

David Einhorn to take proxy fight to Apple shareholders

David Einhorn, the hedge fund manager waging a legal battle with Apple over its mountain of cash reserves, is taking his case directly to the iPhone maker's investors.

Einhorn's Greenlight Capital, which sued Apple earlier this month over the issue, will host a public conference call and Webcast Thursday to discuss the merits of his proposal for issuing preferred stock to investors.

The conference call and Webcast will begin at 11 a.m. PT. U.S. callers can dial in at 1-800-901-5241 and entering the passcode 62063868#. The Webcast can be accessed by visiting www.media-server.com/m/p/aj2p6kq7. … Read more

Judge: Apple shareholder suit shows 'likelihood of success'

A federal judge said today he sees merit in an activist hedge-fund manager's lawsuit against Apple but did not issue a ruling on whether to block next week's shareholder vote on a proxy proposal.

U.S. District Judge Richard Sullivan declined to immediately rule on a request by Greenlight Capital to stop a February 27 vote because he wasn't sure the plaintiff would suffer "irreparable harm" if the vote was allowed to be held as scheduled.

"Candidly, I do think the likelihood of success is in favor for Greenlight," Sullivan said today in … Read more

Judge accelerates hedge fund's lawsuit against Apple

A federal judge has approved Apple's request to fast-track a lawsuit filed last week by hedge fund manager David Einhorn's Greenlight Capital in an effort to get the electronics giant to share more of its massive cash reserves with investors.

U.S. District Judge Richard J. Sullivan for the Southern District of New York granted Apple's request, moving forward the schedule for a hearing on a preliminary injunction sought by Greenlight Capital. Apple had argued that the proposed meeting would have an effect on its shareholder meeting later this month.

The modification request suggested that document filing … Read more