mobile menu mobile search

Dell fast-tracks quarterly results

Dell fast-tracks quarterly results

Dell Inc plans to release quarterly results on Thursday, publishing the numbers almost a week earlier than anticipated.

The company, which CEO Michael Dell and partner Silver Lake have proposed buying and taking private for $25 billion, said in a statement it will announce financial results August 15 after the market closes. They had previously been scheduled for August 20.

“We decided to accelerate the results announcement in light of the heightened interest in the company,” spokesman David Frink said without elaborating.

The results will come a day before a Delaware court hears activist investor Carl Icahn’s opposition to the CEO’s offer. Icahn, who leads a shareholder movement to try and derail that deal, wants the court to expedite a hearing on a lawsuit he filed this month.

The hedge fund billionaire is suing to try and force the company to hold a special vote on the offer the same day as its annual general meeting, arguing such an arrangement will compel the CEO and Silver Lake to put their best, final offer on the table for shareholders. A special vote on the buyout will be held on September 12.

Frink said the early release had no relation to the pending case.

More on Dell

Icahn sweetens Dell bid

Icahn promises $16 billion buy-back of Dell stock

Icahn short on cash for Dell proposal: committee

Dell presented with more alternatives to buyout

Reuters is a news agency headquartered in New York City. Until 2008 the Reuters news agency formed part of a British independent company, Reuters Group plc, which was also a provid...
Join the Conversation
Join our newest FREE BusinessTech newsletter today!