Pension funds have taken different sides in the proposal to take Dell Inc. private, a shareholder vote the company postponed until July 24 to win more proxy support.
Among pension funds, the $165.5 billion Florida State Board of Investment, Tallahassee, and $12.8 billion Illinois State Board of Investment, Chicago, already cast their votes of their Dell shares in favor of the company-endorsed proposed deal led by Michael S. Dell, chairman and CEO, and Silver Lake Partners.
But the $166 billion California State Teachers' Retirement System, West Sacramento, and C$129.5 billion ($124.5 billion) Ontario Teachers' Pension Plan, Toronto, already voted against the deal.
In a filing Thursday with the Securities and Exchange Commission, Dell announced the special meeting of shareholders to vote on the proposal the same day “convened and adjourned to provide additional time to solicit proxies from Dell stockholders. No vote was taken on the proposed transaction prior to the adjournment.”