- Dell (DELL) shareholders are due to convene yet again today to decide on whether to accept Michael Dell's and Silver Lake's buyout proposal. The ballot has already been postponed twice.
- The offer to be voted on is the group's $13.65-a-share bid rather than their higher $13.75 proposal, which is contingent on abstentions not being counted as "no" votes.
- Dell's special committee has rejected that condition, but has offered to change the date of record, which would cause the ballot to be delayed again and could benefit Michael Dell, but which has provoked a lawsuit from Carl Icahn.
- Given the closeness of the vote, retail investors, who reportedly hold 11% in Dell, have suddenly become very important.