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Wednesday, Apr 24
The Oakmark Funds, which owned 1.4% of Dell (DELL +1.3%) at the end of Q1, has unloaded its...
The Oakmark Funds, which owned 1.4% of Dell (DELL +1.3%) at the end of Q1, has unloaded its stake in the company following Blackstone's decision to withdraw its bid. Oakmark: "Since [Blackstone] had information we didn't, we believed it was prudent to assume they might be right." With Oakmark out, PC demand cratering, and Carl Icahn reportedly unlikely to follow through on his preliminary offer, the odds of Silver Lake's LBO bid winning out (provided the firm remains committed to it) are starting to look good.