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T. Rowe dumps some Dell

May 16, 2013: 1:52 PM ET

DellDissident Dell shareholder loses a bit of its voice.

FORTUNE -- T. Rowe Price still may want to vote against Michael Dell's proposed takeover of Dell Inc., but its opinion will no longer be heard quite so loudly.

Yesterday the mutual fund reported disclosed that it sold around 10.26 million Dell (DELL) shares during the first quarter, which represented around 12.5% of its holdings. It also acquired 5.8 million call options during the same period.

There is no available information as to what price T. Rowe (TROW) sold at, or what call options it purchased. Dell shares traded at between $10.31 and $14.51 per share during the first quarter, compared to the proposed buyout price of $13.65 per share.

Also unavailable is any information as to whether T. Rowe has increased or decreased its Dell holdings since March 31.

When T. Rowe originally came out in opposition to the buyout, it was believed to be the company's second-largest outside shareholder (based on year-end 2012 data), behind only Southeastern Asset Management. At the end of Q1, it dropped down to number five, behind Southeastern, UBS (UBS), Carl Icahn and BlackRock (BLK).

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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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