It’s time now for Michael Dell to plan his next move as company’s special committee ask Dell to increase his offer price to take the company private, reports CNBC. With Carl Icahn’s last offer making huge waves in the company over buyout result of which the company’s special committee now asking Michael Dell to increase his bid if he wants the company in his hand.
Icahn with his partner Jefferies & Co. have secured $5.2 billion in financing for their Dell bid. This means that Icahn and his partner now pay $14 per share for Dell stock of around 670 million shares. This means that Michael Dell has to increase the price to above $14 per share, would make sense only if it would be around $14.50 per share. If doing so, the company total value of the deal will raise to around $26 billion.
The game of turning Dell into private company turning exciting day-by-day as neither of party leaving any stone unturned. We will update further as soon as more info comes into picture.
$Dell Special Cmte. asks Michael Dell to sweeten terms of buyout offer; Michael Dell has not responded to the committee’s request – source
— CNBC (@CNBC) July 2, 2013