The proxy advisory firm asserts that the transaction presented by founder Michael Dell and Silver Lake Partners is in the best interests of shareholders.
The suggestion comes with the revelations that activist investor Carl Icahn has secured financing for his takeover proposal, a source tells Reuters.
The activist investor signs up banks and institutional investors to help him finance his bid to buy Dell, according to a report from Reuters.
In a presentation filed with the SEC, Dell's special committee says Carl Icahn hasn't provided any information it requested.
The activist investor, known for saying what's on his mind, is now using Twitter as his platform.
Committee says activist investor's latest proposal lacks adequate financing and a remedy for the company and its shareholders if his proposal were to fail.
The board says the founder's buyout offer will provide the "best possible outcome for shareholders," trumping the rival bid from Carl Icahn.
The company will hold a special meeting of the shareholders on July 18 to approve the transaction between Dell and Michael Dell.
The company has requested several items from Carl Icahn to determine if his offer is truly superior to the one presented by Silver Lake and Michael Dell.
The U.S. PC industry for sale? Carl Icahn thinks so. And he wants to move fast before the PC dies.
The activist investor has teamed up with Southeastern Asset Management to offer an alternative to the current offer.
The private equity firm also cites Dell's "rapidly eroding financial profile" as part of its reason to withdraw from the takeover process.
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