Michael Dell Sweetens LBO With Dividend to Sway Investors

Dell Inc. investors from Franklin Mutual Advisers to BlackRock Inc. signaled support for a sweetened buyout offer for the computer maker, suggesting founder Michael Dell is gaining the upper hand in a six-month fight to take the company private.

Franklin Mutual, which had previously opposed the buyout, changed its position after Michael Dell today agreed to boost his offer to buy Dell to as much as $24.9 billion with a special dividend. BlackRock, the world’s largest money manager and holder of a 4.4 percent Dell stake as of Aug. 1, also plans to back the offer, said a person familiar with the matter.