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Dell committee will not back M. Dell's latest offer: source

Wednesday, 31 Jul 2013 | 8:39 AM ET
Special committee says 'no' to Michael Dell
Wednesday, 31 Jul 2013 | 8:03 AM ET
According to a source, Dell's special committee is not willing to agree with a change in voting standards, reports CNBC's David Faber.

A special committee of Dell's board of directors is not willing to change the voting terms for company founder Michael Dell's buyout offer in exchange for a 10-cent increase in that offer, a source familiar with the situation said on Wednesday.

Michael Dell has proposed increasing his offer to $13.75 per share but only if the committee agrees to change the voting rules to a structure believed to increase his chances of winning shareholder approval.

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