A Michael Dell buyout. “Dell Inc and a group led by founder and Chief Executive Michael Dell reached a new deal on Friday that dramatically increases the chances of a $24.8 billion buyout going through,” Eileen O’Grady and Greg Roumeliotis report for Reuters.  “The new agreement includes a special dividend of 13 cents per share along with an offer increased by 10 cents per share to $13.75 per share, Dell’s special board committee, set up to ensure shareholders are getting the best deal, said in a statement,” O’Grady and Roumeliotis report. “A vote on the buyout, held under a the new standard, has been rescheduled for Sept. 12, while the record date, which determines which shareholders are entitled to vote, will be reset to Aug. 13 from June 3.” A Delaware court will decide, on Monday the 13th, whether to expedite a lawsuit filed by Carl Icahn, the chairman of Icahn Enterprises LP (NASDAQ:IEP), against Michael Dell’s proposal to take Dell Inc. (NASDAQ:DELL) private for almost $25 billion, setting the scene for a face-off between the two billionaires. Michael Dell Buyout.

Icahn, in his lawsuit against Dell Inc. and its board of directors, filed on Aug. 1, asked the court to force the computer giant to hold side-by-side votes on Michael Dell’s offer and on Icahn’s proposal for a rival offer to buy back 1.1 billion shares at $14 apiece, in addition to one warrant for every four of their shares, allowing stockholders to buy one Dell share for $20 over the next seven years. Michael Dell buyout.

http://www.nasdaq.com/article/michael-dell-inks-revised-deal-to-take-dell-private-for-about-249-bln-20130802-00510