News Column

Dell Ups Takeover Offer; New Vote Set

August 2, 2013
dell

Michael Dell bumped up his takeover offer Friday for Dell Inc, valuing the company at almost 25 billion dollars to boost his chances of winning the support of shareholders.

The Dell board agreed to the new offer and said it would be put to shareholders in a September 12 vote. Shareholders had been scheduled to vote on Dell's previous offer Friday.

The new offer adds a 13 cent per share dividend to the previous bid of 13.75 dollars a share. That offer had been considered too low by opponents of the deal, led by Carl Icahn, who owns nearly 9 per cent of the company and who is trying to engineer a rival package.

According to reports, Michael Dell, who founded the company in 1984 and built it into the world's largest computer seller, is financing the dividend to the tune of 230 million dollars by revaluing his own 15.6 per cent stake in the company.

As part of the new deal the board also agreed to change the voting rules so that a non-vote would no longer count as opposition to the takeover deal.




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Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH


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