ROUND ROCK, Texas (KXAN) - Michael Dell raised his bid to $13.75 a share to retake the company he founded, and the meeting to consider the bid was delayed until Aug. 2, the Associated Press reported Wednesday.
Dell shareholders were scheduled to vote on the $24.4 billion buyout offer from founder Michael Dell Wednesday evening. This comes after a special committee on the Dell Inc. board delayed the vote from last Thursday.
One local adviser believes another delay will actually help Michael Dell get his deal over the line.
"Mr. Dell has been meeting with institutional share holders as the board has been reaching out to smaller shareholders," explained financial expert John Harrell, a Senior Vice President with Wells Fargo Advisors. "It's pretty impressive when the CEO is sitting across the table from you answering the tough questions on why the deal makes sense."
Michael dell has been on the campaign trail, so to speak, to get more support for his deal which was originally $13.65 a share. The company pushed back the vote because it didn't feel that shareholders would pass the deal.
Billionaire investor Carl Icahn has led a campaign against the offer. He wants to keep the Round Rock-based company on the market and buy back 1.7 billion shares at $14 each.
If a shareholder doesn't vote in this case, it's considered a 'no.'
The freezing and near-freezing rain that swooped into Central Texas overnight prompted numerous school closings and delays and made for a harrowing morning commute on Friday.
A man is expected to survive after being stabbed in the head at the Salvation Army shelter in Downtown Austin at about 3:45 a.m. Friday.
As the Austin area prepares itself for an impending winter storm on Friday, Dec. 6, many schools have already announced delays.
With freezing temperatures pushing through the region, heating systems will likely be working overtime, which can bring rising energy bills.
Investigators are looking into an overnight fire that left one woman with third-degree burns.
Caldwell County residents gathered Thursday evening to organize their fight against a proposed landfill that they say poses a hazard that they don't need.