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-------------------------------------------------------------- This story was printed from ZDNet Australia. --------------------------------------------------------------
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Michael Dell boosts his own stock By Larry Dignan, Special to ZDNet October 04, 2001 URL: http://www.zdnet.com.au/news/business/soa/Michael-Dell-boosts-his-own-stock/0,139023166,120260908,00.htm
Dell Computer chief executive Michael Dell bought more than 4 million shares of the company for about US$72 million after the September 11 terrorist attacks in an effort to prop up the stock. According to a filing with the Securities and Exchange Commission late Tuesday, Dell bought a combined 4.3 million shares in four separate purchases. On September 20, Dell bought 1.15 million shares and followed up by buying 2.75 million shares on September 21 in two transactions. On September 27, Dell bought 400,000 shares. The average price for the purchases was US$16.72, a touch above Dell's 52-week low. The stock markets reopened September 17 after being closed because of the Sept. 11 terrorist attacks on the World Trade Centre and the Pentagon. In an attempt to help the markets, the SEC issued an emergency order easing rules on corporate and insider purchases.
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