Dell's founder boosts offer to buy the company
In hopes of attracting more shareholder support for his plan to buy the company, Dell founder Michael Dell has raised his offer by 10 cents to $13.75 per share. Credit: AP, 2007
Dell's founder is boosting his offer to buy the struggling PC maker by 10 cents to $13.75 per share in hopes of attracting more shareholder support.
The move came just hours before shareholders of the Round Rock, Texas-based company were scheduled to vote on the earlier offer from founder Michael Dell and the investment firm Silver Lake Partners.
The company said it was delaying its shareholder meeting for a second time, moving it to Aug. 2 to give its board time to consider the offer. The meeting had been set for later Wednesday.
Michael Dell says the new offer increases the total amount paid to shareholders by about $150 million to more than $24 billion. They say it's their best and final offer.
Shareholders Carl Icahn and investment firm Southeastern Asset Management have said the earlier offer undervalued the company.
Traffic safety improvements eyed for Hempstead ... No tax on tips arriving ... Seven sickened by raw oysters ... Holiday lights for cancer patients
Traffic safety improvements eyed for Hempstead ... No tax on tips arriving ... Seven sickened by raw oysters ... Holiday lights for cancer patients
