News Summary: Dell's PC decay deepens in 1Q

News Summary: Dell's 1st-quarter earnings sink, giving a potential lift to CEO's buyout bid

Associated Press

DELL'S DOLDRUMS: Slumping personal computer maker Dell Inc. is still having trouble adapting to a market increasingly dominated by smartphones and tablets. Quarterly earnings plunged 79 percent as management slashed prices to spur sales.

POINT: The dismal performance could help Dell's board persuade more shareholders to accept a $24.4 billion buyout offer from CEO Michael Dell and other investors. The board contends the price of $13.65 per share is a good deal in a time of adversity.

COUNTERPOINT: Two of Dell's largest shareholders, billionaire Carl Icahn and Southeastern Asset Management, are still trying to block the proposed sale.

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