A Dell Inc. (DELL) special committee already considering a
$13.75-a-share offer for the computer company from founder Michael
Dell and Silver Lake Partners is seeking an improved offer from the
group of at least $14 a share, Bloomberg News reported Wednesday on
its website, citing a person with knowledge of the situation.
The Dell committee, created to evaluate efforts to take the
company private, would be open to a condition laid out by Mr. Dell
and Silver Lake that the improved $13.75 offer is valid only if the
panel changes a critical voting calculation, the person said.
Mr. Dell and Silver Lake, in a letter to the committee outlining
their improved offer, requested that the vote to pass the deal
require a majority of shares that are voted, instead of a majority
of all shares. The buyout group gave the committee until 6 p.m. EDT
on Wednesday to reply.
The Dell committee, however, is not planning to take action on
the revised Dell-Silver Lake offer Wednesday, according to the
Bloomberg report, although it is open to a change in the voting
rules should the buyout group boost its bid to $14 a share,
according to the person.
Full story at:
www.bloomberg.com/news/2013-07-24/dell-committee-said-to-seek-at-least-14-a-share-for-buyout.html
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