A special committee could postpone the Friday vote on its Michael Dell's buyout offer if polls already cast would sink it, Bloomberg reports July 16, 2013 8:28 AM PDT (Credit: Dell) Dell may delay a Friday shareholder vote on a $24.4 buyout offer from its founder Michael Dell and a private equity firm by about a week, Bloomberg reported Tuesday, citing an unnamed person familiar with the matter. Related stories Carl Icahn says he'll sweeten offer for Dell on Friday PC slump shows no sign of slowing, Gartner says Advisory firms follow ISS with Dell buyout endorsement ISS tells Dell shareholders to vote for $24.4B founder buyout A special committee of the board is likely to make the decision by Friday morning if the number of votes already cast would mean the proposal from Dell and Silver Lake Management LLC fails, according to the report's source. Friday is the same day activist investor Carl Icahn said he would sweeten his own competing offer to take over the PC maker by adding warrants. Icahn has touted his proposal as the superior value for shareholders, but multiple shareholder advisory firms have recommended yes votes to the founder's bid. A delay would give Dell and Silver Lake the opportunity to raise their bid or declare it the final offer, Bloomberg reported, adding it would also let shareholders a chance to change their minds.
A special committee could postpone the Friday vote on its Michael Dell's buyout offer if polls already cast would sink it, Bloomberg reports
Dell may delay a Friday shareholder vote on a $24.4 buyout offer from its founder Michael Dell and a private equity firm by about a week, Bloomberg reported Tuesday, citing an unnamed person familiar with the matter.
Related stories
- Carl Icahn says he'll sweeten offer for Dell on Friday
- PC slump shows no sign of slowing, Gartner says
- Advisory firms follow ISS with Dell buyout endorsement
- ISS tells Dell shareholders to vote for $24.4B founder buyout
A special committee of the board is likely to make the decision by Friday morning if the number of votes already cast would mean the proposal from Dell and Silver Lake Management LLC fails, according to the report's source.
Friday is the same day activist investor Carl Icahn said he would sweeten his own competing offer to take over the PC maker by adding warrants.
Icahn has touted his proposal as the superior value for shareholders, but multiple shareholder advisory firms have recommended yes votes to the founder's bid.
A delay would give Dell and Silver Lake the opportunity to raise their bid or declare it the final offer, Bloomberg reported, adding it would also let shareholders a chance to change their minds.
