Dell is Considering an IPO

AlphaAtlas

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It's only been 5 years since Michael Dell and other investors bought back shares of the company and went private, but Reuters reports that Dell wants to go public again. Initially, the company wanted to make a $21.7 billion deal with several hedge funds, which would allow them to go private without an IPO, but investors never got on board. The company reportedly mulled over an Initial Public Offering in July, but decided against it due Dell's large amount of debt. Thanks to stronger financial performance, Dell is allegedly looking into the possibility again.

Going public would give Michael Dell and Silver Lake the option to eventually sell down their stakes, even though they have said they have no plans to do so. If the tracking stock deal goes through, Michael Dell would own 47 percent to 54 percent of the combined company, while Silver Lake would own between 16 percent and 18 percent.
 

kju1

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Fuck that, I still never got my 1,000 shares worth of money back from when they took it private.
 

jardows

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They want to see this company go down hill fast, be bought up by Chinese interests, or what? This is crazy.
 

Kinestron

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Wait .. Dell went private so that they could improve the company ... now that it's better they want to go back public? That doesn't make any sense ...
I was thinking the same thing. Their company is better now imo so I hope this does not go through and as someone mentioned above, I don't want a back alley deal where China actually picks up ownership.
 

kju1

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Just curious, how is that possible?

I was out of the country with no internet access. Came back to find out they went private, contacted my broker (TD) who told me I missed the deadline to sell my stock and that it was forfeited under some regulation because I had a chance to sell before they went private.
 

Uvaman2

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I was out of the country with no internet access. Came back to find out they went private, contacted my broker (TD) who told me I missed the deadline to sell my stock and that it was forfeited under some regulation because I had a chance to sell before they went private.
What bullshit, should have been sold automatically...
So you have nothing whatsoever, or you have a stake as a private owner or some shit?
 

kju1

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What bullshit, should have been sold automatically...
So you have nothing whatsoever, or you have a stake as a private owner or some shit?

In theory sure somewhere on Dells books they should have me down as a .0000001% owner. In reality? There is no way I will ever get a dime from them. The way TD explained it was basically I am screwed and nothing can ever be done w/those shares unless Dell says so. Dell never responded to my legal inquires about the shares (yes I had a lawyer mail them).

Sure I could sue...but as my lawyer put it I was better of dropping it because the law suit would cost more than the shares most likely.
 

Jim Kim

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Fuck that, I still never got my 1,000 shares worth of money back from when they took it private.
Sounds like it was all your fault along with a shitty stock broker, DELL had nothing to do with it.
 

kju1

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Sounds like it was all your fault along with a shitty stock broker, DELL had nothing to do with it.

All my fault for serving my country by deploying as a civ support to military and being out of contact. Dell could have responded to my lawyer. Its not the first time I have had bad dealings with Dell. Like the used TV they sold me that was supposed to be brand new and then refused to take back (it arrived non working). If my credit card company hadn't gotten involved I would've ended up with nothing.
 

Snowdog

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All my fault for serving my country by deploying as a civ support to military and being out of contact. Dell could have responded to my lawyer. Its not the first time I have had bad dealings with Dell. Like the used TV they sold me that was supposed to be brand new and then refused to take back (it arrived non working). If my credit card company hadn't gotten involved I would've ended up with nothing.

I think it is more likely you were scammed by your broker. Buyouts should automatically be converted to cash and deposited in your account. Expecting individual shareholders to take active measures is not something that happens.

https://www.nasdaq.com/article/5-facts-about-stock-buyouts-that-may-surprise-you-cm217964
" If you do nothing, then the cash from the sold shares is simply be deposited into your brokerage account when the deal closes -- typically three to four months later. (Unless a company is being acquired with another company's stock, in which case you receive stock of the acquiring company instead.)"

I haven't had the cash buyout, but I have had stock swap happen automatically in my account, and IIRC one time it was stock swap with small amount of cash.

They can't simply keep your money because you didn't take active measures. Sue your broker.
 

Dead Parrot

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2nd on the broker screwed you. Folks don't get notifications all the time. Military service, one of those around the world cruises on a freighter, 6 month mission trip to central Congo, etc. Doubt very seriously that you had to make an response or loose the investment. If you don't respond, I think the normal action is to sell the shares at market the day the company makes the change and deposit the proceeds to your account. I have had several stocks where the company did something, merge, go private, split into two or more companies and the usual thing is you vote your shares at some point in the process and the actual trade takes place days/weeks later automatically. Even if you don't vote your shares, your shares still get transacted, but you might loose your right to sue over the companies action if you lose money in the deal.

Inquire with the SEC on what the real policy is. If you don't like that response, contact one of your Congress critters.
 

kju1

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I think it is more likely you were scammed by your broker. Buyouts should automatically be converted to cash and deposited in your account. Expecting individual shareholders to take active measures is not something that happens.

https://www.nasdaq.com/article/5-facts-about-stock-buyouts-that-may-surprise-you-cm217964
" If you do nothing, then the cash from the sold shares is simply be deposited into your brokerage account when the deal closes -- typically three to four months later. (Unless a company is being acquired with another company's stock, in which case you receive stock of the acquiring company instead.)"

I haven't had the cash buyout, but I have had stock swap happen automatically in my account, and IIRC one time it was stock swap with small amount of cash.

They can't simply keep your money because you didn't take active measures. Sue your broker.

2nd on the broker screwed you. Folks don't get notifications all the time. Military service, one of those around the world cruises on a freighter, 6 month mission trip to central Congo, etc. Doubt very seriously that you had to make an response or loose the investment. If you don't respond, I think the normal action is to sell the shares at market the day the company makes the change and deposit the proceeds to your account. I have had several stocks where the company did something, merge, go private, split into two or more companies and the usual thing is you vote your shares at some point in the process and the actual trade takes place days/weeks later automatically. Even if you don't vote your shares, your shares still get transacted, but you might loose your right to sue over the companies action if you lose money in the deal.

Inquire with the SEC on what the real policy is. If you don't like that response, contact one of your Congress critters.

I guess I will give the SEC a call. Couldnt hurt...
 
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