8/1/2013

A special committee created by the board of directors of Dell has shot down a request by founder Michael Dell and investment firm Silver Lake Partners to change the voting rules for approving their bid to acquire the company. Dell and his bidding partner added $150 million to the pot, bringing their total bid to $24.6 billion on the condition that abstaining votes not be counted against them. The rejection amounts to a potentially serious setback to Dell's plan to turn the company around by taking it private, writes Agam Shah of IDG News Service.

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