Saturday, November 28, 2015
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
NSA's Phone Surveillance Program Changes
Lenovo and Razer Partner to Make Gaming PCs
LG Display Makes Huge Investment in OLED Panels
Sony To Bring Remote Play Feature To PS4
MINIX NEO U1 Media Hub for Android Coming Next Week
Samsung Joins Audi’s Progressive SemiConductor Program
German ISPs May Block Music-sharing Sites: court
Study Says HTTPS Certificate and SSH Key Reuse Endangers Millions of Devices Worldwide
Active Discussions
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
How to burn a backup copy of The Frozen Throne
Help make DVDInfoPro better with dvdinfomantis!!!
Copied dvd's say blank in computer only
menu making
Optiarc AD-7260S review
 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.

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
Dell Says Security Hole Identified In Some Laptops
Dell's Black Friday And Cyber Monday Offers on PCs, Tablets And More
Dell And Microsoft Introduce Hybrid Cloud Syste
Dell Unveils Smaller, Faster OptiPlex Business PCs
Dell, HP, Intel, Lenovo and Microsoft Unite to Promote The PC
It's Official: Dell Acquires Data Storage Company EMC For About $67 Billion
Dell Releases Windows 10 XPS Devices
Dell May Buy Data Storage Company EMC: reports
Dell To Invest $125 Billion in China
Microsoft and Dell Partner to Deliver Windows 10 devices And Support to the Enterprise
Alienware Brings Liquid Cooling and Dynamic Overclocking to Holiday Lineup
Dell Releases TLC-based Flash Storage Arrays

Most Popular News
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2015 - All rights reserved -
Privacy policy - Contact Us .