Dell confirms buyout offers from Icahn and Blackstone
PHOTO: Dell confirms buyout offers from Icahn and Blackstone
PUBLISHED ONMarch 24, 2013 4:00 PM
The private equity buyout led by founder Michael Dell (pictured) would give shareholders US$13.65 per share.
NEW YORK - American computer maker Dell confirmed Monday that it has received two buyout offers, from billionaire Carl Icahn and investment fund Blackstone.
In February, Dell unveiled plans to go private in a US$24.4 billion deal. The private equity buyout led by founder Michael Dell, backed by equity investment firm Silver Lake, would give shareholders US$13.65 per share. The company had set a Friday deadline for alternative offers.
In a statement on Monday, Dell said the new offers might be higher than that figure, and that Dell would negotiate with the potential buyers.
Going private would de-list the company from stock markets and could ease some pressure on Dell. The company is cash-rich but has seen profits slump as it tries to reduce dependence on the shrinking market for personal computers.