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ROUND ROCK, Tx. Oct. 2, 2009 -- Dell today announced that it has commenced its tender offer for
Perot
Systems.
The move represents the next step toward an acquisition first announced
Sept. 21. When completed, the expanded Dell is expected to help
customers thrive and grow through a broader range of smartly delivered
IT services and solutions, and better position the company for its own
immediate and long-term growth and efficiency.
Dell anticipates the acquisition will close during the company’s
November-January fiscal quarter.
The cash tender, through a wholly owned Dell subsidiary, is for all
outstanding shares of Perot Systems Class A common stock at a price of
$30 per share, without interest and less any applicable withholding or
stock-transfer taxes.
The tender offer is subject to conditions set forth in the Offer to
Purchase, including a minimum share-tender condition, the expiration or
termination of the Hart-Scott-Rodino waiting period, and the obtainment
of applicable approvals under the antitrust, competition or merger
control laws of other countries, and other customary conditions, as
described in the merger agreement.
Unless extended, the tender offer and any withdrawal rights to which
Perot Systems stockholders may be entitled will expire at midnight, New
York City time, on Monday, Nov. 2, 2009 (at the close of Nov. 2).
Following acceptance for payment of shares in the tender offer and
completion of the transactions contemplated in the merger agreement,
Perot Systems will become a wholly owned subsidiary of Dell.
Complete terms and conditions of the tender offer are set forth in the
Offer to Purchase, Letter of Transmittal and other related materials
filed by Dell and DII – Holdings Inc. with the SEC on Oct. 2, 2009. In
addition, on Oct. 2, 2009, Perot Systems filed a
Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC
relating to the tender offer. Copies of the Offer to Purchase, Letter of
Transmittal and other related materials, including the
Solicitation/Recommendation Statement, are available free of charge from
D.F. King & Co., Inc., the information agent for the tender offer,
toll-free at (800) 488-8095 (banks and brokers call collect (212)
269-5550). BNY Mellon Shareowner Services is acting as depositary for
the tender offer.
About Dell
Dell Inc. listens to customers and delivers innovative
technology and services they need and value.
Information Source: Business Wire
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