Traders with an interest in US shares are watching closely as Dell Inc edges closer to being reacquired by its founder today. Dell Inc founder Michael Dell was pushing for easier voting rules to help him win his battle to take the PC maker private today, and offered a token 10 cents more per share to sweeten his $24 billion bid. The new proposal is for approval to be based on a majority of votes cast by unaffiliated shareholders, giving Michael Dell and Silver lake Partners, his private equity backer, a leg up in the face of opposition from billionaire investor Carl Icahn and several other investors. The bidders had fallen short of the previous bar to success, which was majority support of all unaffiliated shareholders, sources familiar with the matter said last week. The proposed voting change would stop shareholders who abstained from voting being counted against the deal.
Posted on: Wed, 24 Jul 2013 14:20:39 +0000
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