Just before the public learned about the potential LBO of Dell, Inc., the company’s stock price was trading for $10 per share. What is the size of the premium that Silver Lake and Michael Dell were offering public shareholders? In July 2013, an independent firm that advises institutional investors on how they should cast their votes at shareholders meetings issued a letter backing Michael Dell’s offer. They argued that in the LBO transaction, shareholders would receive a premium “with certainty,” whereas with Carl Icahn’s offer, it was uncertain whether the value of the company would ultimately be higher than the proposed LBO price. How would that affect your vote if you were a Dell shareholder?