Dell buyout bid deadline approaches

Dell buyout bid deadline approaches

Credit: AP

In this Tuesday, Aug. 21, 2012, photo, the sun is reflected in the exterior of Dell Inc.'s offices in Santa Clara, Calif. Slumping personal computer maker Dell announced Tuesday, Feb. 5, 2013, it is bowing out of the stock market in a $24.4 billion buyout that represents the largest deal of its kind since the Great Recession dried up the financing for such risky maneuvers. (AP Photo/Paul Sakuma)

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by KVUE News

kvue.com

Posted on March 22, 2013 at 5:04 PM

Updated Friday, Mar 22 at 6:13 PM

AUSTIN -- Michael Dell may be in for a bit of a financial tug of war.

Dell and his financial partners, California-based Silver Lake Group, bid $24.4 billion to take the company private; that's $13.65 per share. However, they gave the Board of Directors 45 days to search for a better offer. That 45-day deadline ends at midnight.

Many investors say a higher bid is likely and that's why Dell's stock price has remained above $14 per share the past two weeks.

Check back for more on this developing story.

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