Michael Dell Says LBO Vote Method Unfair as He Pushes Bid

Michael Dell, in comments that were by turns unbowed and resigned, said he won’t raise his buyout offer for Dell Inc. and conceded that he had agreed to a method of counting shareholder votes that “does not make sense.”

The Dell founder and partner Silver Lake Management LLC last week raised their offer by a dime to $13.75 a share, or $24.6 billion. The increase was contingent on the special committee of the computer maker’s board changing a rule that unvoted shares be tallied as opposing the deal, a provision that has so far thwarted the bidders from winning approval.