The deal Michael Dell has been pushing for has officially been approved.
Dell's special committee, the board of directors and the buyout group—CEO Michael Dell and Silver Lake—have come to a new agreement that raises the buyout price to $13.75 a share plus a 13 cent dividend and a dividend of 8 cents in the third quarter.
After word of the agreement surface, Dell's shares spiked by more than 5 percent. (For the latest stock price, click here.)