Michael Dell’s bid to retain control of the PC maker he founded nearly 30 years ago was left hanging in the balance yesterday after he failed to win shareholder backing for a $24.4bn buyout.
The rejection of what would be the tech world’s biggest-ever buyout emerged as the company yesterday suspended a shareholder meeting that had been called to approve the deal.
The development sets up a final showdown with angry shareholders as Mr Dell tries to salvage the deal that he first proposed nearly a year ago, as well as his future at the group.
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