Dell Buyout Group Said Unlikely to Pursue Deal at $13.75
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Michael Dell and Silver Lake Management LLC are unlikely to stick with a sweetened bid of $13.75 a share for Dell Inc. after the board committee refused to change the rules to make it easier for them to win shareholder support, said a person with knowledge of the matter.
While the committee is willing to change the record date to let more recent shareholders vote on the proposal, the buyout group doesn’t anticipate that this alone will be enough for them to win approval for their transaction, said the person, who asked not to be named because the deliberations are private.