Sunday, March 24, 2013

Blackstone, Icahn Set up 3-Way Battle to Buy Dell

Dell appeared to have received competing offers following a $24.4 billion agreement last month to be taken private by its founder and private equity firm Silver Lake, setting up a tug-of-war for the world's No. 3 PC maker.

Blackstone Group LP submitted an indicative and preliminary offer ahead of the expiration of a "go-shop" period on Saturday that allowed Dell to explore other options, a person familiar with the matter said.

The buyout firm has not yet arranged bank financing, though it has put potential lenders on stand-by, a a second source familiar with the matter told CNBC...

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