Dell Inc. (DELL): Michael Dell and Silver Lake Increases Bid
Michael Dell and private equity firm Silver Lake Partners has increased their bid to buy out the Dell Inc. (NASDAQ:DELL), according to The Wall Street Journal. The bid is now $13.75 per share plus a special dividend of 13 cents per share. This now values the deal at about $24.9 billion.
Billionaire investor Carl Icahn made a separate deal and is suing the company as part of an attempt to block Michael Dell’s deal. The shareholders at Dell was supposed to vote today about whether to take the company private or not. The vote has been postponed to September 12th now.
By accepting a higher offer, Dell shareholders would also have to accept a voting procedure change.