July 16 Dell Inc may delay by about a week a scheduled July 18 shareholder vote on a $24.4 billion buyout offer from founder Michael Dell and private equity firm Silver Lake, Bloomberg reported on Tuesday.
Bloomberg, citing a person with direct knowledge of the situation, said Dell's special board committee was considering the delay and would likely make a decision by the morning of July 18 based on whether enough votes have been cast to block the buyout.
Such a delay would allow Michael Dell and Silver Lake to either raise their bid or declare it their best and final offer, and would also give shareholders an opportunity to change their minds and recast their votes, Bloomberg said.
A Dell spokesman declined to comment on the Bloomberg report. Spokesmen for Dell's special board committee and Silver Lake did not respond to requests for comment.
Dell shares were down 1.2 percent to $12.99 in late morning trading in New York, below Michael Dell's and Silver Lake's $13.65 per share offer.