Dell's founder boosts offer for company buyback

Dell's founder is boosting his offer to buy the struggling PC maker by 10 cents to $13.75 per share in hopes of attracting more shareholder support.

FP Archives|Dec 20, 2014, 22:25:33 IST

Round Rock, Texas: Dell's founder is boosting his offer to buy the struggling PC maker by 10 cents to $13.75 per share in hopes of attracting more shareholder support.

The move came just hours before shareholders of the Round Rock, Texas-based company were scheduled to vote on the earlier offer from founder Michael Dell and the investment firm Silver Lake Partners.

The company said it was delaying its shareholder meeting for a second time, moving it to 2 August to give its board time to consider the offer. The meeting had been set for later Wednesday.

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Dell logo is seen in this file photo. AP[/caption]

Michael Dell says the new offer increases the total amount paid to shareholders by about $150 million to more than $24 billion. They say it's their best and final offer.

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