imgres-8The deal to take Dell private just got a little more lucrative.
Today, Michael Dell, the company’s founder, issued a letter to shareholders asking them to the approve the deal when they meet on August 2 to vote on the buyout.
“I believe that taking Dell private is the right thing to do for the company. We need to transform, and we need to do it quickly,” Dell wrote in the letter. “The transformation is not without risks and challenges, and I believe that we can do what we need to do better as a private company than a public company.”
Dell also reported that he and his partner, Silver Lake, have increased their buyout offer to $13.75 per share, up from $13.65. The increase provides an additional $150 million to shareholders.
He also reported it was “our best and final offer.”
“I believe this offer is in the best interests of the company and our shareholders,” Dell wrote. “Certain other parties have been proposing alternatives such as leveraged recapitalizations, sales of assets and other steps that I believe would be destructive to the company and that I do not and will not support.”