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Technology Stocks : Dell Technologies Inc.
DELL 45.65+0.2%3:36 PM EDT

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From: Sr K7/24/2013 9:45:36 AM
   of 176377

Dell-Silver Lake Increase Buyout Offer to $24.6 Billion
By Callie Bost & Aaron Ricadela - Jul 24, 2013 8:53 AM ET

Michael Dell and Silver Lake Management LLC sweetened their proposal to buy Dell Inc. (DELL), boosting their offer to about $24.6 billion in an effort to clinch shareholder support.

The parties increased the offer to $13.75 a share from $13.65 and called it their “best and final proposal,” according to a statement today. Dell delayed a vote on the leveraged buyout to Aug. 2 at 9 a.m. local time at the personal-computer maker’s headquarters in Round Rock, Texas.

The new offer also requires that the Dell special committee agree not to count abstentions as votes against the deal, according to a letter included in the statement. After days of wooing by Dell and his camp, some 18 percent of eligible shares still hadn’t voted as of two days ago, a person familiar with the situation said. That works against the founder because absentees counted as “no” votes under the earlier proposal.
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