Dell Latest News: Michael Dell Closes in on Prize With $25B Deal

Wochit 1:11 mins

Dell and Chief Executive Michael Dell clinched a new $25 billion deal, boosting the bid and offering a special dividend in hopes of ending months of wrangling with opponents of the founder's proposed buyout of the world's No. 3 PC maker. Just when it looked as if he might be vanquished, Dell CEO Michael Dell has regained the advantage in the lengthy battle to buy the slumping personal computer maker that he founded nearly 30 years ago. He did it by persuading the company's board to accept a slightly better offer that adds a one-time dividend in exchange for a pivotal change in how shareholders will vote on the deal. Dell's Special Committee of the Board of Directors has entered into a revised agreement with its founder Michael Dell and his partner Silver Lake Partners. The company said that it has agreed to Dell's recently announced $13.75-per-share offer. The parties have also agreed to a special dividend that will be paid to shareholders at or before closing of 13 cents per share.

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