Subscribe / Unsubscribe Enewsletters | Login | Register

Pencil Banner

Dell OKs new plan for shareholder vote on raised offer from Michael Dell

Agam Shah | Aug. 5, 2013
The Special Committee overseeing Dell's buyout proposal has reached an agreement with company founder Michael Dell and his associates, Silver Lake Partners, on a proposed purchase in which shareholders will get US$13.75 per share and a special dividend of $0.13.

Icahn has been leading the charge against the Dell-Silver Lake proposal. He filed a lawsuit on Thursday against the PC maker to prevent the company from setting a new date for the meeting at which shareholder votes on the Dell-Silver Lake proposal are to be counted. The suit also demanded that if a new vote date is set, the company's annual meeting "be held on the same date and time, and with the same record date," according to a filing with the U.S. Securities and Exchange Commission.

The new agreement reached on Friday also amends the breakup fee from $450 million to $180 million in case any merger agreement is terminated.

 

Previous Page  1  2 

Sign up for CIO Asia eNewsletters.