Talk about the eleventh hour… 30 minutes before the shareholder meeting was due to begin today, the Michael Dell/SilverLake team tabled a revised bid which included a special 13c dividend. That was enough for Dell’s board to agree to the change in shareholder voting rules. Which that change, the bid would surely have failed. The Dell board then accepted the new revised offer which will go to shareholders at a newly convened meeting on 12th Sept.
Whether this is the end is another matter. Indeed will Carl Icahn now give up?
Dell shares up 5.6% at $5.64 against a revised bid price of $13.75.