The Blackstone Group LP is making an aggressive offer to hire Mark Hurd from Oracle to be the new CEO of Dell. Hurd is currently President of Oracle Corp and his recruitment is hinged upon the equity firm's push to take controlling stake in the third largest PC maker in the world.
Currently, Blackstone is conducting its due diligence review in light of the March 22 'go-shop' provision in the Dell charter. This provision allows other parties to present other offers aside from the current tabled offer from the consortium led by Michael Dell himself with Silver Lake Partners. The offer from the Dell-Silver Lake consortium is at US$24.4 billion.
Making Hurd as the new CEO is part of the deliberations on its submission for its bid for Dell. These reports were relayed by individuals familiar with the deliberations but requested anonymity. Hurd previously served as CEO of Hewlett Packard but resigned due to sexual harassment allegations made against him. While there was no finding of harassment, he was found to have filed inaccurate expense results.
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