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Jul 24, 2013

Dell founder ups takeover bid based on voting rule change

By Poornima Gupta, Soyoung Kim and Greg Roumeliotis

(Reuters) – Dell Inc founder Michael Dell on Wednesday 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 No.3 personal 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.

Jul 24, 2013
    • About Poornima

      "Poornima Gupta writes about technology out of San Francisco, covering consumer and enterprise device makers Apple, HP and Dell. She previously spent five years in Detroit covering the crisis-ridden U.S. automotive sector that resulted in two of the biggest bankruptcy filings in the industrial world. She won a SABEW award for reporting on the failed merger between GM and Chrysler, and their negotiations with the federal government."
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