Venture capitalist Blackstone's decision to withdraw from the bidding for Dell has spooked The Oakmark Funds into offloading its major stake in the Texan PC baron. The group of mutual funds owned 24.5 million shares or a 1.4 per cent holding in Dell, making it the seventh largest investor. Oakmark said yesterday that Blackstone …
So maybe Michael Dell is still nuts,
but not greedy as some had supposed when they though his bid undervalued the company.
Re: Curse of Microsoft
That surely takes the prize as the most idiotic and illogical posting you have so far inflicted upon us - that and your caps lock obsession. If the later bidders bid too much and then had to back out when they realised that Dell and Silverlake's offer reflected a realistic price for the company how then is that Redmond's or (God help us all) Nokia's fault? Your hysterical ravings are getting increasingly embarrassing to read.
Re: Curse of Microsoft
@Arctic fox - it's the Linux/FOSS purists I feel sorry for, must be an embarrassment for them to have this sort of representation.
RE" it's the Linux/FOSS purists I feel sorry for, must be an embarrassment.............
............ for them to have this sort of representation."
I think that they are likely amongst his keenest downvoters!
Re: RE" it's the Linux/FOSS purists I feel sorry for, must be an embarrassment.............
Actually, I have a plugin that hides his posts.
Very interesting. The other bidders appear to have outsmarted themselves.............
"This transformation into an enterprise player was supposed to take place away from the glare of Wall St, and part of the reason why the man Michael and VC pal SilverLake Partners bid $24bn for Dell the company.
That offer was branded "woefully inadequate" by Southeastern Asset Management, leading to rival bids being tabled by Blackstone and Icahn Enterprises."
..............by assuming (at the outset) that Dell and Siverlake's bid was an attempt to get the company on the cheap.
Re: Very interesting. The other bidders appear to have outsmarted themselves.............
Down voted for obsessive use of periods......
Looks like a good call by oakmark
So what happened here is that Mr Dell made an offer that valued the shares at less than the going rate, everyone thought he was undervaluing the company, so blackstone made a higher offer, then got access to the real information and found out that Dell had been right all along, and got the hell out. Oakmark realised that's what was going on, and then realised that the likely result would be the current shareprice falling to the level that Dell the man was offering, and sold their shares first, whilst the price was still high. Good move.
Bill Nygren is a very good investor
Nygren has made only one big mistake in the last 15 years and that was investing in Washington Mutual before the financial crash. It was the biggest mistake for Oakmark by far and it really took their legs out for a bit in 2009.. Otherwise, he is a steady-as-she-goes, buy-and-hold type of investor who has had a very good track record the last 15 years and more.
We knew the world would not be the same. A few people laughed, a few people cried, most people were silent. I remember the line from the Capitalist scripture, the Free Market Theory. Dell is trying to persuade the Investors that they should do their duty and sell ownership at a lower price and to impress them, takes on his multi-armed buyout form and says: "Now I am become Death, the destroyer of wealth."
I suppose we all thought that, one way or another.
If the current PC market is hurting Dell, think what it must be doing to Intel. Those multi-billion dollar fabs don't pay for themselves very quickly. They need to be kept *very* busy to make them pay.
ARM must be pissing themselves laughing.
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