AAPL), Samsung and Google ( GOOG). No matter how you look at it, I believe Dell's fate has already been sealed. Making matter worse is the company has spent the past couple of years throwing good money after bad, thinking, "Let's buy our way out of this mess." It hasn't worked. Nor have any of these recent investments (if you can call them that) done anything to shore up Dell's weakness in mobile.
I will be surprised, if not completely shocked, if the $13.65 offer goes much higher. Dell's not worth anything. Before you send in your emails, I say this knowing full well that Dell has $12 billion in cash on the books and still produces more than $4 billion in operating cash flow. But I don't find this impressive. There are many companies on Wall Street that produce these same sorts of numbers without receiving the public attention or press coverage that Dell enjoys today. Quite frankly, I'm annoyed by this. Given the competitive advantages this company once enjoyed and allowed to slip away, I believe it's a travesty of capitalism that Michael Dell still has a say in what this company is able to do next. All the while, frustrated investors who have held on to their stock faithfully, are used as pawns for a decision that may end up taking years to produce any sort of meaningful value post privatization. Again, nobody knows what that value will be. Follow @saintssense This article was written by an independent contributor, separate from TheStreet's regular news coverage.