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US: Dell breaks own promise, ups buyout bid

By  |  July 24, 2013

Despite declaring he would not do so, Dell CEO Michael Dell has upped his buyout bid for the company by 10 cents to $13.75 per share, upping the offer by $150 million. Dell announced the revised bid in an announcement with private equity firm Silver Lake; the two described it as their “best and final offer.” Further, Dell has requested a rule change for the shareholder vote of the takeover, asking that only votes by those actively voting are counted. Currently rules state those who abstained from a vote will be considered as a “no” vote. Reports say a shareholder meeting for Dell has been rescheduled for August 2.

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