- The special committee of Dell's (DELL) board rejects Michael Dell/Silver Lake's offer to raise their bid to $13.75 in exchange for an alteration in voting rules
- The board will consider a new date for a vote on a $13.75 deal, but only under current rules in which abstentions would be counted as the equivalent of "no" votes.
- The alternative is to proceed with a vote as planned on August 2 for the existing $13.65 offer.
- Shares -1.3% premarket to $12.69.
Dell board rejects revised buyout proposal
Jul 31 2013, 09:03 ET