Bloomberg Businessweek (Asia)
Bid/Ask: T. Rowe Price repays investors for a flub; Pelé sells a World Cup medal
T. Rowe Price compensates clients for a flawed proxy vote.
Although the fund company was among those claiming that a $24.9 billion buyout of Dell undervalued the computer maker, T. Rowe mistakenly supported the transaction. The payments cover the difference between the $13.75 per share the company paid and the $17.62 per share a Delaware court ruled should have been the deal’s fair value.