Following the revised buyout offer from Michael Dell and investment firm Silver Lake last week, a special committee of Dell’s board of directors announced on Wednesday that it has rejected a key part of it. Specifically, the committee refused to accept the part of the new offer by which only shares that are actually voted would be counted in the final decision. That rule change was the primary condition for an increase of 10 cents per share in the financial part of the offer.
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It's Do or Die for Dell as Committee Rejects Bid
Posted by: Peter Suciu July 31, 2013 01:59 PMFollowing the revised buyout offer from Michael Dell and investment firm Silver Lake last week, a special committee of Dell’s board of directors announced on Wednesday that it has rejected a key part of it. Specifically, the committee refused to accept the part of the new offer by which only shares that are actually voted would be counted in the final decision. That rule change was the primary condition for an increase of 10 cents per share in the financial part of the offer.