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Dell Wins Support From ISS for Buyout

Michael Dell won support from Institutional Shareholder Services Inc. for the $24.4 billion buyout of his company, a surprise endorsement from an influential shareholder adviser that increases the chances he will prevail.

Dell and Silver Lake Management LLC’s buyout plan would shelter shareholders from risks tied to the deteriorating personal-computer business, ISS said today. As recently as last week, ISS was leaning against recommending Dell’s offer, people familiar with the matter said at the time. Glass, Lewis & Co., another shareholder adviser, also backed the buyout proposal.