Nearly 70 Percent of Dell Shareholders Voted to Go Private

The vote in favor of taking Dell private in a $25 billion leveraged buyout wasn’t terribly close, a new filing with the U.S. Securities and Exchange Commission shows.

In the final tally, nearly 70 percent of shareholders voted in favor of the plan to take Dell private, in a process that is expected to be completed later this year. The tally also showed that it was approved by a majority, or 50.5 percent of people not associated with Dell or any related entities.

Michael Dell, the company’s largest shareholder, was excluded from voting under terms of the go-shop process set up by the board of directors. That meant that in total, a majority of shareholders amounting to 43 percent had to vote in favor.

Here’s the language from the SEC filing below. It’s not clear if this is really the end of the process, as activist investor Carl Icahn has promised to pursue appraisal rights in Delaware Courts in an attempt to ask a judge to determine the company’s real value. That probably won’t scotch the deal, but could drag the last fading bits of drama relating to this transaction out just a little bit longer. After opposing the plan for months, Icahn stopped trying to get control of the company for himself on Sept. 9. Either way, he made a tidy $70 million profit for his trouble.

Here’s the original language from Dell’s 8-K filing.