Michael Dell adds dividend payment to buyout offer

Michael Dell adds dividend payment to buyout offer

Credit: AP

In this Tuesday, Aug. 21, 2012, photo, the sun is reflected in the exterior of Dell Inc.'s offices in Santa Clara, Calif. Slumping personal computer maker Dell announced Tuesday, Feb. 5, 2013, it is bowing out of the stock market in a $24.4 billion buyout that represents the largest deal of its kind since the Great Recession dried up the financing for such risky maneuvers. (AP Photo/Paul Sakuma)

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by Associated Press

khou.com

Posted on August 2, 2013 at 8:56 AM

ROUND ROCK, Texas -- Dell's board has agreed to an increased offer from founder Michael Dell that would add a special dividend to shareholders.

The Round Rock, Texas, company says a group led by its founder and the investment firm Silver Lake Partners will tack a one-time shareholder payout of 13 cents per share to an offer they made last week to buy the company for $13.75 per share.

Shareholders were scheduled to vote this morning on a lower offer to buy the company for $13.65 per share. That vote has been postponed.

Shareholders who own the stock as of Aug. 13 will now be eligible to vote at a Sept. 12 special meeting on the new deal.

Dell's previous offers have drawn heated criticism from major Dell investors like Carl Icahn for being too low

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