Michael Dell and Silver Lake Partners on Wednesday rejected a demand for a higher bid from Dell's special committee, saying the $13.75 per share offered is a "full and fair price" and that the amount, increased by a dime per share earlier in the morning, represents their best and final bid, sources familiar with the situation told CNBC.
Rival bidder Carl Icahn tweeted in apparent reaction: "All would be swell at Dell if Michael and the board bid farewell."
The committee was said to be seeking at least $14 per share from Michael Dell and Silver Lake in order to consider a potential change in voting rules, according to a person familiar with the matter.
The special committee might not endorse the proposed changes in voting rules even if the buyout group raised its takeover offer to $14 per share or more, the person added, asking not to be named because he was not authorized to speak with the media.
Founder Michael Dell pushed earlier Wednesday for easier voting rules to help him win his battle to take the PC maker private and offered 10 cents more per share, or $150 million, to $13.75 per share to sweeten his $24.4 billion bid.
The new proposal is for approval to be based on a majority of votes cast by unaffiliated shareholders, giving Michael Dell and Silver lake Partners, his private equity backer, a leg up in the face of opposition from billionaire investorIcahn and several other investors.
The bidders had fallen short of the previous bar to success—majority support of all unaffiliated shareholders, sources familiar with the matter said last week.
(Read more: Icahn rips intoDell board...and slams Ackman, too)