Dell reported a 31 percent drop in profit, hurt by a shrinking consumer business, as investors weighed founder Michael Dell’s offer to buy out the world’s No.3 maker of personal computers.
Michael Dell, teaming up with private-equity firm Silver Lake and software maker Microsoft, is offering $13.65 a share to buy out the company, but at least four of its largest investors are opposed to the $24.4 billion deal.
Dell posted net income of $530 million, or 30 cents a share, in its fiscal fourth quarter on revenue of $14.3 billion. That came in slightly higher than the average analyst estimate of revenue of $14.12 billion.