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T. Rowe: We still hate Dell deal

April 23, 2013: 12:31 PM ET

dell_sign_headquartersThe more things change, the more they stay the same.

FORTUNE -- T. Rowe Price is still opposed to taking Dell Inc. private at $13.65 per share, even though the PC maker's stock has fallen well below that mark since The Blackstone Group (BX) decided not to make a rival offer.

T. Rowe (TROW) staked out its original position on Feb. 12, when chairman and chief investment officer Brian Rogers said that the firm did "not intend to support the offer as put forward." At the time, Dell (DELL) stock was trading at $13.79 per share -- and it later would climb as high as $14.51 per share before reversing course.

Yesterday a T. Rowe spokesman reiterated the firm's opposition, despite the change in circumstance.

T. Rowe was Dell's second-largest shareholder at the time of its original statement, but the spokesman would not discuss if T. Rowe subsequently increased or decreased its holdings (there have been some market rumors suggesting the latter). It will report Q1 earnings tomorrow, but its next holdings disclosure is not due until the middle of next month.

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About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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