Dell Delays Buyout Vote

by William White | July 18, 2013 3:11 pm

Dell NASDAQ:DELL[1]Dell (DELL[2]) decided to postpone a shareholder meeting[3] that was set to take place Thursday, to Wednesday.

The meeting will decide on the buyout offer by Dell founder Micheal Dell, who wishes to make the company private. The delay will give Micheal Dell a chance to try and convince investors to join his side on the buyout, reports Reuters.

Many of the votes against the buyout came from retail investors that chose not to vote on the matter. Michael Dell may need to raise his offer of $13.65-a-share to seal the deal, reports Reuters.

“The delayed vote may speak to the Silver Lake/Dell transaction not finding necessary support,” Brian White, a Topeka Capital Markets analyst, told Reuters. “A higher bid may be necessary to consummate this transaction.”

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