BUSINESS

Michael Dell raises bid for Dell Inc., shareholder meeting delayed to August

07/24/2013 08:23 EDT | Updated 09/23/2013 05:12 EDT
ROUND ROCK, Texas - Michael Dell has raised his takeover bid for Dell Inc. to $13.75 per share in a last-minute effort to buy out other shareholders of the company he founded.

A meeting of shareholders that was scheduled for today has been delayed until Aug. 2.

The Texas-based company says a special committee of its board is evaluating the revised cash offer from the buyer group headed by Dell.

The new offer is 10 cents per share higher than before but attaches new conditions to how the shareholder votes are counted.