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Icahn, Blackstone submit bids to buy Dell - report

2013-03-25 09:06:00| Telecompaper Headlines

(Telecompaper) Carl Icahn and Blackstone have submitted offers to acquire Dell for more than the USD 24.4 billion buyout bid from Michael Dell and Silver Lake Management, a person familiar with the matter told Bloomberg. The two new bids were submitted before the go-shop deadline of 22 March. Icahn said he would pay USD 15 a share in cash for 58 percent of Dell, the person said. Blackstone, which is said to be working with Morgan Stanley, is confident that it can raise debt to pay more than the USD 14.25 a share offered by Michael Dell and Silver Lake. Dell may announce on 25 March if the new proposals are likely to be higher or if it needs more time to study them. Bloomberg writes that Michael Dell is likely to raise his offer.

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