Bloomberg is reporting that a last minute bidder might have emerged for Dell:
Blackstone Group LP (BX) is weighing a bid for Dell Inc. (DELL), the computer maker seeking offers to rival the proposed $24.4 billion buyout by its founder and Silver Lake Management LLC, said people with knowledge of the matter.
Blackstone may bid as part of a group with other investors, said one of the people, who asked not to be named because the process is confidential. The New York-based private-equity firm hasn’t made a decision, another person said. Under the go-shop provision of the Silver Lake merger agreement, Dell’s board has through March 22 to seek superior proposals, and can negotiate beyond that date if it receives an offer it deems serious.
The Bloomberg article also claims that HP and Lenovo have also sniffed around, but Blackstone is the only player left in the game. We’ll find out on March 22nd if they get their prize.
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Rumor: Last Minute Bidder Emerges For Dell
Bloomberg is reporting that a last minute bidder might have emerged for Dell:
Blackstone Group LP (BX) is weighing a bid for Dell Inc. (DELL), the computer maker seeking offers to rival the proposed $24.4 billion buyout by its founder and Silver Lake Management LLC, said people with knowledge of the matter.
Blackstone may bid as part of a group with other investors, said one of the people, who asked not to be named because the process is confidential. The New York-based private-equity firm hasn’t made a decision, another person said. Under the go-shop provision of the Silver Lake merger agreement, Dell’s board has through March 22 to seek superior proposals, and can negotiate beyond that date if it receives an offer it deems serious.
The Bloomberg article also claims that HP and Lenovo have also sniffed around, but Blackstone is the only player left in the game. We’ll find out on March 22nd if they get their prize.
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This entry was posted on March 20, 2013 at 10:44 am and is filed under Commentary with tags Dell. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.