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Dell's $24.4B deal opposed by stockholder

7:54 PM, Feb. 8, 2013  |  Comments
Michael Dell, Chairman and CEO of Dell Inc., reacts to a question during a press conference in Beijing, China on March. 26, 2009. (AP Photo/Alexander F. Yuan, File)
Michael Dell, Chairman and CEO of Dell Inc., reacts to a question during a press conference in Beijing, China on March. 26, 2009. (AP Photo/Alexander F. Yuan, File)
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Dell Inc.'s decision to sell itself for $24.4 billion to a group led by its founder and CEO is being ridiculed as a rotten deal by a major shareholder who estimates the slumping personal computer maker is really worth $42 billion.

The missive launched Friday by Southeastern Asset Management Inc. threatens to complicate Dell Inc.'s efforts to end its 25-year history as a public company.

In a letter to Dell's board of directors, Southeastern CEO O. Mason Hawkins threatened to lead a shareholder mutiny unless the company came up with an alternative to the deal announced earlier this week.

Hawkins vowed to wield Southeastern's 8.5 percent stake to thwart the deal currently on the table. Only Michael Dell, the company's eponymous founder and CEO, owns more stock with a roughly 14 percent stake.

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