The special committee of the board of directors of Dell have agreed to allow Michael Dell and his partner Silver Lake Partners improve on their offer to share holders to take the company private.
It emerged today that Michael Dell is to improve his offer to US$24.9bn with a special dividend.
Dell and Silver Lake Management are offering a dividend of 13 cents a share on top of an already increased US$13.75 per share bid to buy out the company Michael Dell started in a college dorm in 1984.
A third quarter dividend of eight cents per share which was already in place will also be paid.
Dell and Silver Lake originally offered US$13.65 a share but their plans were affected with renowned corporate raider Carl Icahn came in with his own offer, including a US$14 per share buyback.
Icahn yesterday filed a lawsuit to block Dell from changing the rules of the fight and accused the computer maker’s founder of attempting to “ram through” a deal.
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