Michael Dell & Silver Lake up bid to buy Dell; deal vote bumped to Sept. 12

Dell founder Michael Dell

Above: Dell founder Michael Dell

Image Credit: Kevin Krejci/Flickr
Successful CMOs achieve growth by leveraging technology. Join us for GrowthBeat Summit on June 1-2 in Boston, where we'll discuss how to merge creativity with technology to drive growth. Space is limited. Request your personal invitation here!

Michael Dell and private equity firm Silver Lake Partners have once again increased their bid to buy computing giant Dell. Their new offer is $13.75 a share plus a special dividend of 13 cents a share.

Dell’s board has been fighting for some time over the future of the company. Michael Dell (pictured) and Silver Lake want to take the company private, but activist investor Carl Icahn has made his own offer. The Dell/Silver Lake deal values the company at about $24.9 billion.

Shareholders of Dell stock were supposed to vote today about whether to take the company private or not, but then Michael Dell and Silver Lake put in a last-minute bid. Shareholders are now planning to vote on Sept. 12.

Along with accepting the higher offer, shareholders would have to accept a Dell/Silver Lake proposal to change voting procedures. The two want to change the voting requirement for the merger so that only a simple majority of shareholders would be needed to approve the deal.

VentureBeat’s VB Insight team is studying marketing analytics... Chime in here, and we’ll share the results.