“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

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