Michael Dell And Silver Lake Sweetens Bid For Dell; Meeting Adjourned

(RTTNews) - The Special Committee of the Board of Dell Inc. (DELL) announced Wednesday that it has received a revised proposal from Michael Dell and global technology investment firm Silver Lake under which they would increase the price at which they would acquire the company to $13.75 per share in cash.

The Special Committee said that, in light of the revised proposal, the Special Meeting of Stockholders previously scheduled to be reconvened today will be adjourned to August 2, 2013 at 9:00 a.m. Central Daylight Time.

The company agreed in early February to be taken private in a $24.4 billion deal by its founder, Chairman and CEO Michael Dell in partnership with private equity firm Silver Lake Partners. Michael Dell and Silver Lake would pay $13.65 in cash for each Dell share.