Dell founder Michael Dell has increased his offer to take the company private by 10 cents per share. He is now offering $13.75 per share to try and win more shareholder support.
The increased offer took place just hours before Dell’s shareholders were scheduled to vote on an earlier offer from Michael Dell and Silver Lake Partners. The shareholder meeting has been delayed to August 2nd so that the board can consider the offer.
The new offer increases the total amount that will be paid to shareholders has increased by about $150 million to over $24 billion. Michael Dell and Silver Lake said that this is their best and final offer.