Just two days after a key part of Michael Dell’s last offer was roundly rejected, the attempted buyout of his company on Friday took an unexpected turn. Specifically, Dell secured a significant voting concession from the special committee set up by the board of directors in exchange for upping the terms of the buyout deal. The agreement Dell and partner company Silver Lake have struck includes increasing the purchase price from $13.65 to $13.75 per share.
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Compromise Puts Victory Within Michael Dell's Reach
Posted by: Erika Morphy August 2, 2013 01:41 PMJust two days after a key part of Michael Dell’s last offer was roundly rejected, the attempted buyout of his company on Friday took an unexpected turn. Specifically, Dell secured a significant voting concession from the special committee set up by the board of directors in exchange for upping the terms of the buyout deal. The agreement Dell and partner company Silver Lake have struck includes increasing the purchase price from $13.65 to $13.75 per share.