Affiliated Computer Services Inc.'s chairman, Darwin Deason, and his investment partner, Cerberus Capital Management, raised their offer to buy the company in a deal worth about $6.2 billion, or $62 a share.

This is the highest price the group is prepared to offer, says Deason, who founded the Dallas company nearly 20 years ago. Last month, Mr. Deason and Cerberus placed a bid of $59.25 for the company, which valued the computer outsourcing company at about $6 billion.

Deason controls about a 40% control of the company's stock, which in effect gives him control of its fate. Deason previously exercised his control by killing a private-equity deal priced in the low $60-per-share range.

The bidders also proposed a 40-day period in which ACS could solicit better proposals. If higher bids were accepted during that period, the company would be required to pay a break-up fee of 1.5% of the company's value. Deason said he plans to remain chairman for at least the next five years, whether or not a buyout occurs.

Affiliated Computer Services Inc.'s chairman, Darwin Deason, and his investment partner, Cerberus Capital Management LP, raised their offer to buy the company to $62 a share, a level that values the computer-outsourcing company at about $6.2 billion.

Mr. Deason, who founded the Dallas company nearly 20 years ...

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