TweakTown
Tech content trusted by users in North America and around the world
6,252 Reviews & Articles | 40,817 News Posts
TRENDING NOW: Sony teases PlayStation 5 could be a cloud-based console

Dell receives two or more offers before deal deadline reaches

Before their $24.4 billion deal to take the company private hits, Dell receives multiple new offers

| Business, Financial & Legal News | Posted: Mar 25, 2013 7:13 am

If you thought Dell would just fly off into the night and go public without anyone else bidding, well, you were wrong. The Blackstone Group submitted a preliminary offer before the original deal deadline on Saturday for Dell to go private for $24.4 billion.

 

TweakTown image news/2/9/29300_03_dell_receives_two_or_more_offers_before_deal_deadline_reaches.jpg

 

Under the terms of the "go shop" clause in the agreement, it allowed Dell to seek other suitors. A second offer was received by investor Carl Icahn who purchased a bunch of shares a couple of weeks ago. There's no concrete details on Blackstone's deal, but they are offering between $13.65 and $15 per share in a deal that will see shareholder participation. Blackstone have invited GE Capital and others in order to help them out with financing the deal.

 

Icahn have previously demanded Dell pay $15.7 billion in special dividends above the buyout price or risk a proxy fight. Icahn's proposed dividend of $9 per share sees a 67% premium to existing shareholders over the current $13.65 offer that is currently at play with the buyout from Michael Dell, Microsoft and investment company Silver Lake.

NEWS SOURCES:Electronista.com

Related Tags

Further Reading: Read and find more Business, Financial & Legal news at our Business, Financial & Legal news index page.

Do you get our news RSS feed? Get It!

Got an opinion on this news? Post a comment below!

Latest News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases