Dell Inc's founder, Michael Dell and partner Silver Lake experienced a blow after their request to change voting rules for the USD24.4 billion takeover deal was rejected in a special committee meeting. The committee asked for USD150 million more for Dell and Silver Lake's request to be granted.
Dell shares decreased by 4% to USD12.28, being their lowest after the takeover news broke last January. The takeover highlighted uncertainty among the investors in the company about the prospects of the deal.
Founder Michael Dell established the computer maker in 1984. He argued since February that the company needs to restructure as a private firm. However, his plan to take over the company to privatization was strongly opposed by investor Carl Icahn.
On Wednesday, the special committee set up by Dell's board of directors refused to heed Michael Dell's request to change the voting rules for his proposal to push through. The special committee said that it is willing to move the vote's record a date forward.
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