Dell Receives Bids From Icahn and Blackstone
PC giant Dell has received two acquisition proposals to rival the original buyout proposal from Michael Dell and funds affiliated with Silver Lake Partners.
The new proposals were elicited during the "go-shop" period included in the merger agreement, and a special committee of the board has determined that both proposals could potentially be superior. The committee intends to continue negotiations with both.
Carl Icahn is proposing to take Dell private at a price of $15 per share, while Blackstone is offering $14.25 per share. Both proposals are higher than the $13.65-per-share transaction proposed by Michael Dell in February. The structure of each offer differs, making the decision more complicated than simply accepting the highest per-share offer.
The special committee has included detailed proposals of both new offers in a press release.
The article Dell Receives Bids From Icahn and Blackstone originally appeared on Fool.com.Fool contributor Evan Niu, CFA, has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.