Michael Dell Sweetens Take-Private Bid, But With A Caveat

Law360, New York (July 24, 2013, 9:32 AM EDT) -- Michael Dell and Silver Lake Partners on Wednesday offered to add 10 cents per share to their take-private bid for Dell Inc., but only with a change to the merger agreement that will discard abstentions and improve the deal's chances of passing.

The sweetened, $13.75-per-share offer adds about $150 million to the deal, a bump likely to bring some holdouts to the table.

But it also strips from the merger agreement a requirement that a majority of the independent shares — those not held by Michael...
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