Friday, January 25, 2013

Schwarzman Dude, you’re not getting Dell.




That’s the conclusion Blackstone Group reached after weighing a rival takeover bid for the struggling PC maker, The Post has learned.

Blackstone, the buyout firm led by Steve Schwarzman, talked with Citi in recent days about helping finance an offer before deciding it would be too difficult to pull off, sources said.  Ultimately, the executives who gathered at Blackstone’s offices, including Citi’s vice chairman of global banking, Chad Leat, decided that it would be tough to come up with some $5 billion in equity to top an offer from rival buyout firm Silver Lake Partners.

Silver Lake is expected to kick in $1 billion in equity, while CEO Michael Dell is putting in stock valued at $3.6 billion. Microsoft is also said to be mulling throwing in $1 billion to $3 billion.Schwarzman

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