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Dell’s founder boosts offer to buy the company

July 24, 2013 • Business


FILE – In this Thursday, March 26, 2009 file photo, Michael Dell, Chairman and CEO of Dell Inc., reacts to a question during a news conference in Beijing. A group led by Dell’s founder raised its offer for the struggling computer maker on Wednesday, July 24, 2013, in hopes of attracting more shareholder support for its plan to take the company private. (AP Photo/Alexander F. Yuan, File)

NEW YORK (AP) — A group led by Dell’s founder raised its offer for the struggling computer maker Wednesday in hopes of attracting more shareholder support for its plan to take the company private.

The 10-cent per share increase came just hours before Dell’s shareholders were scheduled to vote on the previous $13.65 per share offer from Michael Dell and investment firm Silver Lake Partners.

But the extra money comes with a catch, a stipulation that the offer’s fate be decided by the will of the shareholders who choose to vote in favor of the plan or against it, leaving out those who don’t vote at all. Previously, non-voting shareholders were counted as opponents of the proposal.

The Round Rock, Texas, company delayed its shareholder meeting for the second time in two weeks, moving it to Aug. 2 to give the special committee of its board time to consider the offer. The meeting Login to read more

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