Deals
Dell Boosts Final Offer for Tracking Stock to $120 a Share
- Sweetened deal is effort to win support to return to markets
- Investors, led by Icahn, balked at initial proposal as too low
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Dell Technologies Inc. boosted an offer to shareholders of its tracking stock, DVMT, to win support for the company’s plan to return to public markets.
Dell’s final offer is for $120 per share in cash and stock, and the maximum amount of cash to be paid out will rise to $14 billion, from $9 billion according to a statement from the Round Rock, Texas-based company. Dell also offered holders of the tracking stock the option of receiving 1.5 to 1.8 shares, depending on how much cash DVMT holders elect to receive and how the stock trades in the the 17 days around the Dec. 11 vote on the matter.