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.
This story initially misspoke about one of the speakers at the Sherpa Summit in Spain. Dell CEO Michael Dell was unable to attend the event.
The CEO behind this natural language voice command app says it can operate Google Glass better than Google.
The company, which reported earnings five days earlier than expected, posts a dismal first quarter due to the continued crumbling of the PC market.
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.
With his comment that tablets will soon die out, BlackBerry CEO Thorsten Heins is just the latest to offer a bold prediction about the future of technology. Will he be the latest to blow it?
The private equity firm also cites Dell's "rapidly eroding financial profile" as part of its reason to withdraw from the takeover process.
Private-equity firm launched a bid last month to rival Michael Dell's effort to take private the company he founded.
Activist investor Carl Icahn has agreed not to buy more than 10 percent of Dell shares or partner with others to own more than 15 percent.
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