Tags: Dell | buyout | delay | vote

Dell Said to Consider Delaying Shareholders' Vote on Buyout

Tuesday, 16 Jul 2013 11:30 AM

 

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Dell Inc.’s special committee of the board is considering delaying the July 18 shareholder vote on the $24.4 billion buyout by founder Michael Dell and Silver Lake Management LLC by about a week, said a person with direct knowledge of the situation.

The committee is likely to make a decision by the morning of July 18 if the votes already cast against the buyout are enough to scuttle it, said the person, who asked not to be named because the decision-making process isn’t public.

Adjourning the vote would allow the buyers time to increase their offer or declare the current bid of $13.65 a share as best and final, said the person. It would also give shareholders, who can recast their votes up until the last minute, a chance to change their minds, according to the person. A Dell spokesman didn’t immediately respond to a request for a comment.

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