Currently, the special committee of the Board of Directors of Dell Inc is reviewing the takeover bids submitted by the Blackstone Group and billionaire Carl Icahn. The review would determine of the any or both bids is better than the currently tabled bid from Silver Lake worth US$24.4 billion.
The new bids were allowed under the Dell charter's 'go-shop' provision allowing the board to shop around for better bids than one already accepted. The new bids would essentially but a monkey wrench into the plans of founder Michael Dell to take the company into private hands again after a leveraged buyout plan.
Icahn is said to have offered US$15 per share for 58% of Dell. On the other hand, Blackstone has offered above the US$14.25 per share, according to an anonymous source. Silver Lake's bid is for all outstanding Dell shares at US$13.65 per share.
The main difference between the two is that Silver Lake offers to privatize the company while Icahn and Blackstone would retain publicly traded shares for the third's largest PC maker in the world.
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