A PYMNTS Company

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.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Full Content: All Things D

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.