Dell Board Defends Buyout Amid Mounting Investor Resistance

Dell Inc.’s board committee, facing mounting investor resistance to a $24.4 billion leveraged buyout, said it “negotiated aggressively” to secure the best price and would extend the period for soliciting higher bids if a superior proposal emerged.

Before agreeing to go private, Dell also considered options including a leveraged recapitalization, changing the dividend policy and shedding some business units, the committee said today in a statement. Evercore Partners Inc., serving as financial adviser, is seeking other bids in a so-called go-shop period that concludes March 22.