“Dell Inc and a group led by founder and Chief Executive Michael Dell reached a new deal on Friday that dramatically increases the chances of a $24.8 billion buyout going through,” Eileen O’Grady and Greg Roumeliotis report for Reuters.
“The new agreement includes a special dividend of 13 cents per share along with an offer increased by 10 cents per share to $13.75 per share, Dell’s special board committee, set up to ensure shareholders are getting the best deal, said in a statement,” O’Grady and Roumeliotis report. “A vote on the buyout, held under a the new standard, has been rescheduled for Sept. 12, while the record date, which determines which shareholders are entitled to vote, will be reset to Aug. 13 from June 3.”
O’Grady and Roumeliotis report, “The new deal and delay in the voting date boost the buyout consortium in several ways…”
Read more in the full article here.
MacDailyNews Take: Buh bye, beleaguered Dell. Squashed like bug by Steve Jobs.
Michael Dell plans to stay at beleaguered Dell even if his buyout attempt fails – July 29, 2013
Michael Dell ups buyout offer for beleaguered Dell; shareholder vote pushed off to August 2 – July 24, 2013
Apple now worth 38 times Dell’s market value – October 3, 2012
Beleaguered Dell: Shut it down and give the money back to the shareholders – March 02, 2007
Biting words on Apple come back to haunt Dell – February 10, 2007
Steve Jobs emails Apple team: Michael Dell not the best prognosticator, Apple worth more than Dell – January 16, 2006
Apple now worth more than Dell – January 13, 2006