Michael Dell announced that he won't increase his offered buyout deal for Dell Inc. He also added that he agreed to a way of counting votes that he referred to as "votes that does not make sense".
The computer manufacturer founder and his partner, Silver Lake Management LLC, increased their offer last week to US$13.75 per share piece. The special committee of Dell Inc.'s board changed a rule that stated all unvoted shares were to be tallied as opposition to the deal. The new provision thwarted bidders from winning any approval.
In an e-mail sent by Michael Dell yesterday, he said that the conditional increase from US$150 million to US$24.6 billion is already substantial. He added that there is no other party interested in the computer maker that is willing to pay more than US$13.65 per share piece. Dell also concluded that the offer was their best and final bid.
Michael Dell and Silver Lake agreed to answer questions through e-mail regarding the deal, of which was opposed by Southeastern Asset Management Inc and billionaire, Carl Icahn who were among the investors in the computer firm.
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