Monday, December 11, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Upcoming Samsung QLED TVs Could Have LG Panels Inside
LG Electronics Applies For Iris Recognition Patent For Mobiles
HP Patches New Keylogger Software in its Laptops
DVD6C Lowers Royalty Fees for DVD Players
LG Tests LTE-based Safety Technology for Connected, Self-driving Cars
Apple Said To Buy Shazam
Intel Uses Cobalt Interconnect for 10nm, Global Foundries Detail EUV Lithography for 7nm
LG Display Starts OLED Light Panel Production
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > Michael...
Last 7 Days News : SU MO TU WE TH FR SA All News

Wednesday, July 24, 2013
Michael Dell Ups Takeover Bid


A group led by Dell's founder Michael Dell on Wednesday raised its offer for the computer maker in hopes of attracting more shareholder support for its plan to take the company private.

Dell founder raised his $24.4 billion bid by $150 million but the sweetened offer is contingent on a key change to the shareholder voting rules that will make it easier for him to take the computer maker private.

The sweetened $13.75 per share bid by Michael Dell and private equity firm Silver Lake came hours before a rescheduled vote on the buyout proposal, which has drawn strong opposition from major investors including billionaire Carl Icahn and Southeastern Asset Management.

The proposed amendments to the merger agreement are as follows:

- increase the merger consideration to $13.75 in cash per share of Dell common stock, representing an increase in the consideration to be paid to unaffiliated stockholders of approximately $150 million; and

- modify the "Unaffiliated Stockholder Approval" requirement in the merger agreement to provide that the voting requirement is the approval of a majority of the outstanding shares held by the unaffiliated stockholders that are present in person or by proxy and voting for or against approval of the merger agreement at the stockholder meeting.

"This is our best and final proposal. We are not willing to discuss any further increase in the merger consideration nor are we willing to increase the merger consideration to $13.75 per share without the change to the Unaffiliated Stockholder Approval requirement described above," michael Dell said.

"We believe these amendments are fair and in the best interests of the Company?s unaffiliated stockholders and provide the best alternative available to the Special Committee to maximize stockholder value"

The shareholder meeting on the deal will now be held on Aug 2.

Dell's special committee said it was evaluating the new proposal.

The committee is seeking at least $14 per share from the buyout group in order to consider a potential change in the voting terms, Reuters reported citing a person familiar with the matter.


Previous
Next
New $229 Nexus 7 Tablet Appears Online At Best Buy        All News        4.5W Haswell Core Processor To Power Fanless and 2-in-1 Designs
Facebook 2Q Results Beat Estimates     General Computing News      LG 2Q Profit Down, Smartphone Sales Up

Get RSS feed Easy Print E-Mail this Message

Related News
HPE and Dell Continue to Lead the Storage and Server Markets
Dell's Black Friday and Cyber Monday Deals Are Launching Now
Dell is Doubling Down on the Internet of Things
The New Dell Inspiron 5000 Series Now Available
Dell Sees Solid Growth in Worldwide PC Monitor Market
Dell and Alienware Debut New Gaming Rigs and Monitors
Dell Updates the Precision Workstation Lineup
New Dell Latitude 2-in-1s Arrive With Wireless Charging Features
Dell Unveils 4K Ultra HD High-Brightness Laser Projector and New Curved Monitor
Computex 2017: Dell Debuts Inspiron AIOs and VR Gaming Desktop
CES: Dell Adds Convertible XPS 13 model, Unveils 8K Monitor
Dell's XPS 13 2-in-1 Starts At $1,000

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2017 - All rights reserved -
Privacy policy - Contact Us .