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Dell’s founder increases offer to buy company, shareholder meeting again delayed

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FILE - In this Thursday, March 26, 2009 file photo, Michael Dell, Chairman and CEO of Dell Inc., reacts to a question during a news conference in Beijing. A group led by Dell\'s founder raised its offer for the struggling computer maker on Wednesday, July 24, 2013, in hopes of attracting more shareholder support for its plan to take the company private. (AP Photo/Alexander F. Yuan, File)

ROUND ROCK, Texas – Dell’s founder is boosting his offer to buy the struggling PC maker by 10 cents to $13.75 per share in hopes of attracting more shareholder support.

The move came just hours before shareholders of the Round Rock, Texas-based company were scheduled to vote on the earlier offer from founder Michael Dell and the investment firm Silver Lake Partners.

The company said it was delaying its shareholder meeting for a second time, moving it to Aug. 2 to give its board time to consider the offer. The meeting had been set for later Wednesday.

Michael Dell says the new offer increases the total amount paid to shareholders by about $150 million to more than $24 billion. They say it’s their best and final offer.

Shareholders Carl Icahn and investment firm Southeastern Asset Management have said the earlier offer undervalued the company.

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