Michael Dell unlikely to revise bid offer: report
Dell-Silver Lake consortium digs in heels ahead of 18 July shareholder vote
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.