Michael Dell raises buyout offer, gets Board nod

Dell's board has agreed to an increased offer from founder CEO Michael Dell that would add a special dividend to shareholders.

Shareholders were scheduled to vote this morning on a lower offer to buy the company for $13.65 per share. That vote has been postponed.

The Texas-based company says a group led by Michael Dell and the investment firm Silver Lake Partners will tack a one-time shareholder payout of 13 cents per share to an offer they made last week to buy the company for $13.75 per share.

Shareholders who own the stock as of August 13 will now be eligible to vote at a September 12 special meeting on the new deal.

Dell's previous offers have drawn heated criticism from major Dell investors like Carl Icahn for being too low.