Dell Delays Buyout Vote Yet Again
The Dell buyout vote planned for this week was postponed once again -- this time to Aug. 2 -- amid increasing unease among the vendor's channel partners.
The decision to postpone the vote came after CEO Michael Dell, who is trying to take the company private, increased his offer by 10 cents per share to $13.75 -- adding about $150 million to the leveraged buyout proposal. Dell also proposed changing the rules about how absentee shareholder votes are counted.
The Dell special committee overseeing the deal put off the vote to give shareholders time to consider the new offer. Michael Dell is battling activist investor Carl Icahn and his financial backers for control of the company.