TheStreet's Debra Borchardt, Antoine Gara and TheDeal's Jonathan Marino said it appears a special dividend of 13 cents per share, a $13.75 per share offering price and a guarantee of a third quarter dividend may be enough for founder Michael Dell and Silver Lake to win the bidding war against hedge fund manager Carl Icahn.
Marino said this new offer may finally convince shareholders to go with the deal, so the next important date will be Sept. 12, the new scheduled shareholder voting date.
He added that non-voting shareholders will likely continue selling their shares to insiders who want the deal to get done, making it even more likely that Michael Dell keeps his company.However, Gara said, don't forget about Icahn, a known "speculation agitator." If he wants the company, Icahn will come back with something interesting and will need to convince shareholders that he can run the company better than Michael Dell and Silver Lake, Gara added. Marino added that if Icahn really wanted the company, he could simply raise his bid and probably get it. However, the hedge fund manager probably doesn't want it but is wringing as much money out of it as he can. Icahn has over a month to devise another plan, he added. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell