Dell revenue falls 11 percent amid attempt to go private
February 20, 2013 8:21 AM EST
Dell Inc on Tuesday reported an 11 percent drop in revenue, hurt by a shrinking consumer business, as investors weighed founder Michael Dell's offer to buy out the world's No.3 personal computer maker.
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 said revenue in its fiscal fourth quarter fell to $14.3 billion, slightly higher than the average analyst estimate of $14.12 billion according to Thomson Reuters I/B/E/S.
(Reporting by Poornima Gupta; Editing by Dale Hudson)
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