Michael Dell Latest News: Dell CEO Ups Ante in Buyout Battle for PC Maker

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Michael Dell Latest News: Dell CEO Ups Ante in Buyout Battle for PC Maker

Michael Dell Latest News: Dell CEO Ups Ante in Buyout Battle for PC Maker
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Michael Dell Latest News: Dell CEO Ups Ante in Buyout Battle for PC Maker

by Wochit 1:12 mins

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 board has agreed to an increased offer from founder Michael Dell that would add a special-dividend to shareholders.The company says a group led by its founder and the investment firm Silver Lake Partners will tack a one-time shareholder payout of 13 cents per share to a previous offer,to buy the company for $13.75 per share. Dell Incorporated CEO Michael Dell and his private equity partner Silver Lake expect their deal to buy the Number 3 PC maker to collapse, a source familiar with the matter said. That is, unless the company's special committee changes how votes on the transaction are counted.

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