Dell seeks green light for buyout

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Michael Dell has urged shareholders to back his buyout offer for the computer maker he founded in 1984.

Investors are due to meet next month to vote on the deal to take Dell private, and the group’s chairman and chief executive said its share price would suffer if it remained as a publicly-traded company while transforming itself into a technology consultancy.

Dell has teamed up with private equity firm Silver Lake to mount a $24.4 billion (£15.9bn) bid and said a falling share price could “affect customer perception and make it more difficult to retain employees”.

Activist investor Carl Icahn, who opposes the deal, has called on the firm to buy back up to $16bn of shares but remain as a listed company.