Dell Inc (NASDAQ:DELL) down by 0.07%, Dean Foods Co (NYSE:DF)
Dell Inc (NASDAQ:DELL): In Friday’s trading session, Dell Inc (NASDAQ:DELL) dipped 0.07%. Its opening price of $13.37 rose to touch an intraday high of $13.40 which eventually headed down to close at $13.33 per share. Over 16.09 million shares exchanged hands in the last trading session. This number stood below the average volume of 23.55 million that was measured over a 30-day period.
The activist investor Carl Icahn along with Southeastern Asset Management Inc has begun talks with asset managers and banks to line up commitments to the tune of $7 billion. These are in the form of bridge loans that will back their leveraged recapitalization proposal for DELL. The deal is being led by Jefferies & Co. Icahn and Southeastern are seeking to lock-in the financing before Dell Inc. Dell Inc (NASDAQ:DELL) shareholders will be meeting in July to vote on the rival take-private offer that Michael Dell the CEO and Silver Lake Partners have put forth. Icahn as well as Southeastern are seeking at minimum of $5.2 billion and the outer limit of $7 billion as lender commitments.
Dean Foods Co (NYSE:DF): In Friday’s trading session, Dean Foods Co (NYSE:DF) gained 4.34%. Its opening price of $9.82 rose to touch an intraday high of $10.20 which eventually headed down to close at $9.58 per share. Over 14.78 million shares exchanged hands in the last trading session. This number stood above the average volume of 6.21 million that was measured over a 30-day period.
Milk producer DF announced that the spinoff of WhiteWave Foods, its organic foods division has now been completed. 47.7M shares of the company’s Class A stock has been distributed, and 67.9M shares of its Class B stock. Based on the Dean Foods Co (NYSE:DF) shares that were outstanding on 17 May, every DF shareholder received 0.25544448 shares of the WhiteWave Class A stock, and 0.36380189 shares of the WhiteWave Class B stock for every share that was held. No distribution of fractional shares took place. Instead, they will be aggregated and their sale will take place in the open-market. The net proceeds had been distributed on a pro rata basis as cash payments to shareholders who would have otherwise received WhiteWave’s fractional shares.