Home / Michael Dell unlikely to revise bid offer: report

Michael Dell unlikely to revise bid offer: report

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

Michael Dell unlikely to revise bid offer: report
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.

Follow us to get the most comprehensive technology news in UAE delivered fresh from our social media accounts on Facebook, Twitter, Youtube, and listen to our Weekly Podcast. Click here to sign up for our weekly newsletter on curated technology news in the Middle East and Worldwide.

REGISTER NOW | Webinar Event | Security you can bank on – Safeguarding the Middle East’s financial sector

Presented in partnership with security and network specialist Cybereason, the second in the three part webinar series will bring together a panel of experts to discuss how banks and financial institutions are evolving their service offering while simultaneously staying one step ahead of the cyber criminals who seek to bring their operations crashing to the ground.