Dell Confirms Rival Bids From Blackstone, Icahn2013-03-25 10:08 by DanielaTags: Dell, Blackstone, Icahn
PC maker Dell has now a competition on its hands to see who'll take over the company. Earlier last month, Michael Dell, along with private equity firm Silver Lake Group, said they'd be willing to buy the company for $13.65 a share, putting the value of the business at $24.4 billion. If he gets his way, Dell will acquire increased control over the company. Today, Dell said that it has received two additional buyout bids from investor groups led by Carl Icahn and Blackstone Group, and that both bids have the potential to top the offer by founder Michael Dell to take the computer maker private. Icahn's offer is for $15 a share for 58 percent of Dell, while Blackstone is offering better than $14.25 a share for an unspecified percentage of the company, according to Reuters. With the new preliminary offers, the company's special board committee, which is overseeing the sale process, will continue negotiations with the two rival bidders. Both plans are preliminary, so any firm bids are likely weeks away. Read more -here-
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