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Michael Dell Issues Letter To Customers And Partners

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To our customers and partners,

Six months ago, we announced an agreement in which Silver Lake would partner with me to acquire Dell and take it private. The proposed transaction has generated unprecedented attention from media, investors and other stakeholders. Along the way, there's been no shortage of twists and turns, including three stockholder meeting adjournments and an agreement on a revised transaction that will be put to a stockholder vote on Sept. 12.

I believe that the revised transaction delivers full and fair value for stockholders, while importantly enabling us to enact the will of the majority of voting stockholders. I also believe this is best for the future of our customers, partners and company.

I am passionately committed to seeing this transaction through to a positive resolution. Dell needs to transform, and we need to do it quickly. The technology landscape has fundamentally changed since Dell was founded, and to help you, our customers and partners, succeed requires this transformation.

As a private company in partnership with Silver Lake, I believe we can accelerate Dell's transformation, sacrificing short-term gains to make sure that we are positioned to help you compete, grow and thrive for the long term. Silver Lake and I share a strategic vision and have the financial strength to endure the risks of the transformation and the likely near-term adverse effects on earnings.

Delivering customer and partner value through industry-leading solutions will be our single-minded purpose. We'll retain the flexibility to invest in groundbreaking innovation both through organic R&D and acquisitions. Investments will focus on extending our solutions capabilities, expanding sales coverage, competing in emerging markets, growing the PC and tablet business, and enhancing the customer experience.

I want to thank each of you for your continuing support and partnership with Dell. I know this hasn't been an easy time. The competition has been aggressive during this period of uncertainty, but we are, as we always have been, determined to prove to you why Dell is the best solutions provider to meet your needs.

I founded Dell in 1984 and will continue, as I have for the last 29 years, to make Dell the best company I can for our customers, partners and team members.

/s/ Michael



Posted-In: News Management Insider Trades


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