Deals
Michael Dell, Silver Lake Said to Rule Out Raising Offer
This article is for subscribers only.
Michael Dell and Silver Lake Management LLC won’t sweeten their $24.4 billion offer to take Dell Inc. private, people with direct knowledge of the situation said.
Dell and Silver Lake are ruling out an increase because the $13.65-a-share offer they made in February represents a fair and significant premium to where the stock would trade if the deal fell apart, said one of the people, who asked not to be identified because the process is private. The shares dropped 2.1 percent to $13.03 at yesterday’s close in New York.