Proxy firm ISS recommends Michael Dell's offer for PC maker
July 8 (Reuters) - Investment advisory firm ISS has recommended Dell Inc shareholders vote for founder and Chief Executive Michael Dell's $24.4 billion offer for the PC maker, the company's special committee said.
Michael Dell, whose offer is backed by equity financing from buyout firm Silver Lake, have ruled out raising their $13.65 per share bid, people familiar with the matter said last week.
Billionaire Carl Icahn and Southeastern Asset Management have offered a rival bid that would see shareholders tender 1.1 billion shares at $14 apiece.
Dell's shares were up 2.3 percent in premarket trading on Monday. They closed at $13.30 on Friday on the Nasdaq.