Michael Dell, Silver Lake Not Raising Buyout Offer: Report
Dell's share price took a hit Friday after a report that CEO Michael Dell and Silver Lake are ruling out the option of increasing their buyout offer.
The stock fell as low as $12.70 in New York trading, a drop of 4.6 percent from Wednesday's close.
(See what Dell's stock is doing now)
The company's special committee advised Dell a few days ago that he should increase his buyout offer of $24.4 billion, or $13.65 per share, if he wants it to succeed, according to a Reuters report on Tuesday.
However, according to a Bloomberg report, Dell is going against this recommendation.
—By CNBC's Cadie Thompson. Follow her on Twitter @CadieThompson.