Dell Inc (NASDAQ:DELL) down by 0.07%, Dean Foods Co (NYSE:DF)

Posted by Kristi Scott May 27, 2013 0 Comment 1172 views


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.


About Kristi Scott

Kristi Scott joined GDP Insider in 2005 as a Wall Street reporter for the Business and Market section. Kristi covers the stock market, financial markets and personal finance. Her awards have come from the National Federation of Professional Writers, the Ohio Newspaper Association, the Cleveland Press Club, the Society of Professional Journalists and Suburban Newspapers of America. Kristi was named SNA's national Journalist of the Year

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