Private equity firm Silver Lake, which is backing Michael's Dell's sweetened $24.6 billion bid for Dell Inc, does not support an increase of the takeover consortium's offer to $14 per share, a person familiar with the matter said on Wednesday. Dell's special board committee is seeking at least $14 per share from the buyout group in order to consider a potential change in the shareholder voting terms which Michael Dell and Silver Lake have asked for, another person familiar with the matter said earlier.Silver Lake, however, is unwilling to back a $14 per share offer to get such a concession from the special committee, the first source said.Silver Lake declined to comment.Silver Lake and Michael Dell sent a letter to the special committee on Tuesday in which their described their latest $13.75 per share offer, raised by just 10 cents per share, as their best and final proposal.
Dell, Inc. (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Shares of DELL fell by 0.16% or $-0.02/share to $12.86. In the past year, the shares have traded as low as $8.69 and as high as $14.64. On average, 22087900 shares of DELL exchange hands on a given day and today's volume is recorded at 76895400.
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