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Categories: DELL

T. Rowe Price Group Inc. said its profit fell by 41% in the second quarter, as the asset company accounted for the almost $200 million proxy-vote error it made related to the 2013 buyout of #Dell Inc. #TRowePrice Group unintentionally voted in favor of the $25 billion deal, despite having publicly argued @MichaelDell and private-equity backer #SilverLake were buying the company on the cheap just as it was poised for a rebound. A Delaware judge then ruled in May that they had underpaid and ordered them to repay dissenting investors—a windfall for which T. Rowe was ineligible. The firm could have received about $190 million for its 30 million shares.

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