Dell holds meeting on $24.4 billion buyout

ROUND ROCK: Dell has convened a shareholders meeting to vote on founder Michael Dell's plan to take the slumping computer maker private in hopes of engineering a turnaround away from Wall Street's glare.

The tally wasn't immediately announced. Dell Inc. had left open the possibility of delaying the actual vote once the meeting in Round Rock, Texas, started if it needed more time to gather support.

Supporters believe Dell Inc. stands a better chance of turning around if it can make long-term strategic decisions without worrying about meeting Wall Street's quarter-to-quarter expectations. But some big investors have already signaled opposition to the bid. Icahn believes the offer undervalues the company.

About 300 shareholders were at the meeting. Many shareholders voted by proxy ahead of time. Some were still voting in the back of the room just before the meeting. Shareholders are allowed to change their votes until polling closed.