Our Suits by Suits Inbox this week:
- From the board room, Michael S. Dell, the CEO, Chairman and founder of the computer company Dell, is one step closer to taking the company private. The board has already approved of the proposed sale of the company to Michael Dell and private investors. Now it is up to shareholders whether to exchange their Dell shares for $13.65 per share. Earlier today, the company filed its definitive proxy materials and set July 18 as the date for the shareholders’ vote.
- From the Ivies, Harvard College dean Evelynn M. Hammonds will step down after acknowledging that she ordered a search of the e-mail accounts of junior faculty members in an effort to figure out who leaked information about an investigation into students cheating on tests.
- From the Pac-12, University of Colorado Boulder Athletic Director Mike Bohn has resigned, leaving with an agreement that, in exchange for his releasing the school from any possible liability to him, the school will pay him $918,000 and eight season tickets for the rest of his life for football games and men’s and women’s basketball games. Bohn still had three years left on his contract.
- From the friendly skies, as American Airlines seeks the bankruptcy court’s approval of its plan of reorganization, the U.S. Trustee has again objected to the nearly $20 million severance package for American’s CEO Tom Horton. We reported on the Trustee’s first objection to the package, which was lodged when American sought the court’s approval of its merger agreement with US Airways.