Dell’s Board Clears Founder Takeover and 2 Other Hot Stocks to Watch
Dell (NASDAQ:DELL): Current price $13.39
On Friday, a special committee advised shareholders in an open letter that founder Michael Dell’s option was the best of the available alternatives, and that it offered certainty and “a very material premium” in a challenging business environment, noting that the $13.65-per share price marked a premium of approximately 37 percent over the stock’s average close in the months before chatter about a potential deal surfaced. Thus, the board at Dell indicated that a takeover bid led by Chief Executive Michael Dell is in the best interest of the PC maker’s shareholders, and requested that they okay the deal when it’s put to a vote in July. Also, Dell directors unanimously recommended that the offer from Michael Dell and the investment firm Silver Lake Partners to take the company private for $24.4 billion, according to filings with the Securities and Exchange Commission.
Celsion Corporation (NASDAQ:CLSN): Current price $1.71
Celsion announced Friday that it has received commitments from institutional investors to buy an amount of around $9.83 million of its common stock in an at-the-market registered direct offering led by a dedicated health care fund. The firm has agreed to sell a total of 6,264,492 shares of its common stock at a price of $1.57 apiece. The shares were priced at-the-market with no discount to the previous day’s close. The closing of the offering should take place on or about June 4th, subject to the usual closing conditions, with the estimated net proceeds at approximately $9.1 million.
Ford Motor Company (NYSE:F): Current price $15.99
Sterne Agee has hiked its price target on Ford from $17 to $19, as the firm expects shareholders to benefit from a steady recovery in the North America vehicle cycle, record earnings, disciplined capital allocation, and growing cash returns. The firm maintains a Buy on the stock.
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