Silver Lake Management, a private equity firm, is not keen on raising its bid to US $14 per share for the buyout of Dell Inc. Quoting a source familiar with the deal, Reuters said that Silver Lake - and by extension owner Michael Dell - will not adjust its latest offer of US $13.75 further.
The report said that the private equity wrote a letter to the Dell special committee on Tuesday stating that the US $13.75 is going to be the "best and final proposal."
This development means the deadlock will continue as shareholders keep on insisting on their US $14 per share minimum as the condition for voting in favor of a buyout offered by the consortium.
The shareholders also claimed that the request by Silver Lake and Michael Dell for a change in voting terms will hinge upon the acceptance of this minimum bid. However, Silver Lake is not about to be strong-armed into raising its offer, the report said.
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