Deals
Michael Dell Sweetens LBO With Dividend to Sway Investors
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Michael Dell agreed to sweeten his proposal to buy Dell Inc. to as much as $24.9 billion with a special dividend, securing concessions from the board committee that boost his odds of winning shareholder support for the deal.
Dell and partner Silver Lake Management LLC are offering a dividend of 13 cents a share on top of an already-increased $13.75-a-share bid for the computer maker, according to a statement today from the board committee. In exchange, the investors holding the stock as of Aug. 13 will be eligible to vote on the deal, and abstentions will no longer be counted as no ballots. The shareholder vote will be held Sept. 12.