Blackstone Still Mulling Dell Bid

Mar 22 2013 | 11:45am ET

With just over 12 hours to go before the deadline to make an offer, the Blackstone Group is still unsure about whether to make a play for Dell Inc.

The private equity giant has spent a lot of time looking at Dell's books over the past several weeks as it mulls a competing offer to a $24.4 billion buyout deal proposed by company founder Michael Dell and Silver Lake Partners. Blackstone may put together a group to bid for all of Dell or part of it. Or, as seems increasingly likely, none at all, The New York Times reports.

Dell's "go-shop" period ends at midnight tonight, after which the company will attempt to win support for the buyout, which would take it private.

Of the four groups that have looked at Dell's books, Blackstone is still seen as the most likely to make an offer. Former Dell mergers and acquisitions chief David Johnson now works at the private equity firm and is said to be agitating for a bid.

Blackstone has held talks with Southeastern Asset Management, which owns 8.4% of Dell and which opposes the buyout, about backing a rival deal. And it has approached GE Capital about making an offer for Dell's financial-services arm. Those talks remain fluid, The Wall Street Journal reports.

Blackstone has also spoken with Oracle President Mark Hurd, a former Hewlett-Packard CEO, about taking over Dell should Michael Dell step down if his offer is rejected.


In Depth

Steinbrugge: Top 10 Hedge Fund Industry Trends for 2017

Jan 3 2017 | 9:03pm ET

Each year, Agecroft Partners' Don Steinbrugge predicts the top hedge fund industry...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

DarcMatter: The Top Trends in Alternative Investments for 2017

Jan 13 2017 | 8:22pm ET

The $7 trillion alternative investments industry is poised for continued growth...

 

From the current issue of

The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.