Support for Dell buyout weakens

Feb 12, 2013, 5:57 PM EST
A man pushes a trolley full of Dell computers through a company factory in this June 2, 2011 file photograph.
REUTERS/Babu/Files

Investment company T. Rowe Price, Dell's second largest outside investor, joined the largest outside shareholder Southeastern Asset Management in saying that it won’t back the proposed $24.4 billion buyout of the PC maker. T Rowe Price and Southeastern control nearly 13% of Dell's stock. Their rejection of the offer led by founder Michael Dell suggests that he may have to raise the premium that the proposed buyout represents to the company’s recent beaten-down share price.

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