“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.
Related articles:
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
Well, he has followed his own advice halfway. Give the money back to the shareholders. Check.
Shut the company down. We will see.
Please let this deal succeed!!!
Agreed!
I would like to see more companies go private and get the heck away from Wallstreet. Let’s see how it fares for old Dell.
Well going private Dell won’t have to suffer further stock bottoming humiliation and comeuppance as his company slides eventually into oblivion anyway. Has there ever been a more richly deserved fate and hard kick in the nuts than to someone like Michael Dell? Steve Ballmer being next in line.
Whoever gets Dell, and it will be one group or another, had better have magic up their sleeve.
I think his eyes moved 3 cm closer together than when I last saw this picture.
When his eyes merge, he’ll be known as one eyed Dell. But in the land of the blind (PCs & MS hell), the one eyed man is still king.
Last time I saw a Dell in the wild was 5 years ago!
They are in every doctors office I go into, and the users are always bitching.
The original buyout offer was $13.65 per share. The new offer, including both increased share valuation plus special dividend, returns an additional 1.7% to shareholders. Dell investors would be wise to take the money, as greedy Icahn will only destroy what value is left after he raids the place.
Who in their right mind is providing the cash for this privatization?
Please let me know so I can make sure my investments do not include these idiots.
It’s like pouring money down the drain. Dell will not be able to provide any meaningful return on the investment.
Who does the MDN takes, a 5 year old?
It often appears so!
MDN, the same click whores who admonish all analysts and journalists for biased commentary frequently offer the most uncivil, juvenile, fact-free commentary on the web.
…and yes, this is coming from a dyed-in-the-wool Apple user. MDN would be wise to show the maturity that would make the Apple community proud, rather than embarrass us all frequently and repeatedly.
If this site embarrasses you, then go somewhere else and STFU.
I happen to like gloating over ol’ pig-eye Mike’s misfortunes, because he makes cheap shit for cheap-shit CFOs who can’t see past the initial cost so they buy cheap shit. Thus, Mike Dell personifies shit. So AFAIAC, he can go eat shit.
And he’s ugly, too.
That company is on the brink of extinction and with Microsoft putting out complete garbage OS, it shouldn’t take much longer..
I was forced to use Windows 8 at work for a while, what a disaster, even my boss finally said enough and got rid of it..
Slowly Mousechal Dull moves towards the hole and safety, gripped with fear that someone in the dark room will sense his presence. The shuffling of his feet makes a pathetic whisper. In the corner of the darkened room crouches the Leopard, its presence given away by the yellow slits of eyes and the fetid breath as it watches Mousechal. Hidden are the razor sharp teeth and the powerful muscles coiled like springs. Mousechal is close the hole and safety, his fear rising with every shuffling step. The Leopard ponders the situation. Pounce and remove the pest from this mortal world? Play with its feeble body until death steals in to take Mousechal. The moment passes and the :Leopard turns away in the dark, unseen by Mousechal. Mousechal reaches the hole and without sound or whimper silently disappears. The Leopard now senses another faint, acrid odour in the room–a sweating monkey. Perhaps the monkey is worth the Leopard’s attention. But the thought is fleeting, like the smell of sweat blown across the dark surface of the room and out the window. No, the sweating monkey will not make a bad tasting meal today. There are larger prey for the Leopard, as he turns to the future. The Leopard’s future does not include Mousechal nor the sweaty monkey. The Leopard heads towards the light. The Leopard pads away silently.
Surely, surely there are better companies to purchase Mr Dell? Karma is a bitch isn’t it Mikey?
I don’t think Dell should go private and this is NOT the west deal for share holder. If the restructuring works Dell will come public again one day and to a much higher price… I really hope Carl can stop this deal.