Dell gets surprise backing from ISS

Michael Dell won support from Institutional Shareholder Services (ISS) for the $24.4bn (€19bn) buyout of his company, a surprise endorsement from an influential shareholder adviser.

Dell and Silver Lake Management’s buyout plan would shelter shareholders from risks tied to the deteriorating personal- computer business, ISS said yesterday.

Last week ISS was leaning against recommending Dell’s offer, sources said.