Michael Dell and investment firm Silver Lake Management have increased the value of their proposal to acquire Dell (NASDAQ: DELL) by 10 cents per share to $13.75 per share, or $24.6 billion, Bloomberg reported Wednesday.
Callie Bost and Aaron Ricadela write the new offer represents a 26 percent premium over the company’s share price of $10.88 on Jan. 11.
The company is scheduled to hold a vote on the offer Aug. 2, according to the report.
Investor Carl Icahn and partner Southeastern Asset Management have made several alternative bids to take over Dell and recently said the company could buy back its stock at $14 per share, Bloomberg reports.
Blackstone Management Partners LLC submitted an offer of its own to Dell’s board to buy the company at $14.25 per share but withdrew the bid in April.