Greenlight Company Presentation

Dell's Cash as Described to Shareholders The Shareholder in the Dell Cash trapped offshore Greenlight Capital, Inc. More Buying Choices Growth Add to Cart $28.68 & eligible for free shipping with Amazon Prime Higher Margins $64.95+$14.56 shipping Dreams $71.09+ $18.31 shipping 7 New from $26.58 Add to Cart Add to Cart Needed for acquisitions 13 Dell's Go-Private transaction exposes the disingenuous nature of the cash hoarding rationalizations. Last year, we were large shareholders of Dell. We were told that foreign cash couldn't be repatriated, and that domestic cash needed to be saved for strategic acquisitions, financial flexibility and tough times. We found their attitude toward capital allocation to be so unappealing that we sold the stock. We suspect that we weren't the only shareholders who were frustrated. The frustration helped depress the stock. 13

View entire presentation