NEW YORK ( TheStreet) -- Last week, Dell (DELL) stock dropped below the $13 level as investors position themselves for the increased likelihood that Michael Dell's proposal to purchase the company for $13.65 per share will not be met with approval.This price activity is telling, given that the lows created an almost 7% discount relative to Michael Dell's proposed price. Declines have been driven by reports that Michael Dell and Silver Lake Partners have no intention of saving the buyout by raising their bid for the company, in an effort to appease those opposing the deal (Southern Asset Management and Carl Icahn), who suggest that the appropriate value is closer to the $22-per-share mark.
Dell: Setting Up for a Fall
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