Dell defends shareholder privacy offer

Dell has been forced into an official response against shareholders disgruntled with the company's US$13.95-a-share bid to take the firm private.

Basically telling investors this is the best we could muster, CEO Michael Dell and the board of directors issued the following statement:

“In the course of its deliberations, the Special Committee of Dell’s Board considered an array of strategic alternatives.

"In addition to working through financial and capital-allocation issues with its independent financial advisors, the Committee retained a prominent management consultant to help it assess the Company’s strategic position.

"Based on that work, the Board concluded that the proposed all-cash transaction is in the best interests of stockholders.

"The transaction offers an attractive and immediate premium for stockholders and shifts the risks facing the business to the buyer group.

"In addition, and importantly, the go-shop process provides stockholders an opportunity to determine if there are alternatives that are superior to the present offer.”

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