Dell board may delay founder-buyout vote if on track to tank

A special committee could postpone the Friday vote on Michael Dell's buyout offer if polls already cast would sink it, Bloomberg reports.

Dell
Dell may delay a Friday shareholder vote on a $24.4 buyout offer from its founder Michael Dell and a private equity firm by about a week, Bloomberg reported Tuesday, citing an unnamed person familiar with the matter.

A special committee of the board is likely to make the decision by Friday morning if the number of votes already cast would mean the proposal from Dell and Silver Lake Management fails, according to the report's source.

Friday is the same day activist investor Carl Icahn said he would sweeten his own competing offer to take over the PC maker by adding warrants.

Icahn has touted his proposal as the superior value for shareholders, but multiple shareholder advisory firms have recommended yes votes to the founder's bid.

A delay would give Dell and Silver Lake the opportunity to raise their bid or declare it the final offer, Bloomberg reported, adding it would also let shareholders a chance to change their minds.

 

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