The nation's largest shareholder advisory firm has thrown its support behind Michael Dell's proposed leveraged buyout of the PC company he founded, saying in a "surprise" report that the risks of passing on the deal outweigh any potential rewards for Dell stockholders. "The alternative to accepting the buyout offer is to continue holding equity in a publicly-traded Dell, with continued exposure to the risks and rewards of ownership," said Institutional Shareholder Services. Aaron Ricadela and Serena Saitto write that "ISS's influential recommendation could sway the final outcome because institutional investors look to ISS's findings for guidance on how to vote their shares. It also lessens pressure on Dell to sweeten his offer."
Michael Dell gets "surprise" institutional endorsement for proposed LBO
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