DELL must now wait a few more weeks to learn its fate. A vote scheduled for August 2nd on a buy-out plan for the computer-maker that has been put forward by its founder, Michael Dell, and Silver Lake, a private-equity firm, was delayed yet again after the two partners sweetened their offer for a second time. The deal, which is now worth almost $24.8 billion, will (hopefully) be put to a vote on September 12th.
The buy-out team has faced stiff opposition to its bid from Carl Icahn, a veteran shareholder activist, and Southeastern Asset Management, a big fund manager. Their pressure has forced Mr Dell and his allies to lift their offer from $13.65 a share to $13.75 and to commit to a $0.13 special dividend for shareholders. Dell also announced that its third-quarter dividend would be paid even if the buy-out succeeds.
