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Michael Dell unlikely to revise bid offer: report

Dell-Silver Lake consortium digs in heels ahead of 18 July shareholder vote

Michael Dell wants to take private the company he founded in his college dorm room.
Michael Dell wants to take private the company he founded in his college dorm room.

Michael Dell and his LBO collaborator Silver Lake Partners are not planning to increase their $13.65 per share offer for the ailing computer manufacturer Dell founded and which he now wants to take private, via a leveraged buyout.

Shares of Dell Inc dropped more than 3% on Friday according to a report from Reuters, which also cited insiders as indicating an improved proposal from the Dell-Silver Lake consortium was unlikely.

The company's board had advised the consortium to better its offer after disappointment with the $13.65 proposal triggered shareholder dissent and rival bids.

Pressure is expected to mount on Michael Dell in the run-up to a shareholder vote on his offer, scheduled for July 18.