Michael Dell has added an extra one-off dividend payment of 13 cents per share in his bid to take the firm private – topping what he had previously billed as his "best and final" offer.
Shares jumped by more than five per cent on Friday when the announcement was made, which came after the firm's chief executive Dell upped his initial offer from $13.65 per share to $13.75 per share last month.
The revised offer, which was approved by the firm's board of directors, would see the aggregate value to shareholders jump by at least $350m (£228m). It would also guarantee that a dividend of eight cents per share would be paid by the end of Q3, regardless of when the transaction closes.
Michael Dell – with investment firm Silver Lake – is attempting to take the firm he founded in 1984 private, but is locked in a bidding war with Carl Ichan. The duo own 16 per cent and 8.7 per cent of the company respectively.
On Thursday, reports claimed Icahn filed a lawsuit aimed at blocking changes in timing and terms for a shareholder vote on the firm's future.
The suit aims to prevent a change in the date by which Dell shares must have been bought to qualify to vote, and prevent anyone who bought their shares after 5 February this year being able to vote.
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