PC Tech World: Icahn

Friday, April 19, 2013

Blackstone reportedly backs out of Dell deal, leaves bidding war to Icahn and company founder

Micheal Dell's battle to take back his namesake firm may have just become a little easier: Blackstone seems to have lost interest. According to the Wall Street Journal, the group has backed out of the bidding war for the computer maker, declining to comment on the matter. Bloomberg sources claim that Blackstone lost interest after peeking at the company's financials and were reportedly disappointed by the revenue outlook. This leaves the company's founder to contend with only Carl Icahn, giving his original $24.4 billion bid a better shot at acceptance. The jury's still out on who Dell's next owner will be, but at least it's a little less complicated now, right?

Source: Wall Street Journal, Bloomberg

Sunday, March 24, 2013

Potential Dell bidding war afoot as Blackstone Group and Carl Icahn reportedly making offers

Potential Dell bidding war afoot as Blackstone Group and Carl Ichan reportedly making offers

Thought that Dell buy out was a done deal? Well, the Blackstone Group and investor Carl Icahn clearly don't think so, with the Wall Street Journal reporting that both have contacted the committee of Dell's board just before Friday's shutoff deadline. The would-be bidders are reported to be working on their actual offer amounts, and in the process buying them four more days thinking time. Reuters reports that Blackstone's tentative offer is already in, according to sources, but at this time the company is yet to comment. Despite a recent slump in profits, Michael Dell surprised many when he announced his intention to buy back the eponymous firm in a deal with Microsoft for $24.4 billion. So, if the founder thought he had the keys to the old estate back, he might just have to wait a little longer.

Source: The Wall Street Journal, Reuters