Blackstone Group, HP, Lenovo interested in Dell: report
07 March 2013
Dell Inc. has attracted interest from private equity firm Blackstone Group and computer makers Hewlett-Packard and Lenovo Group, Bloomberg today reported, citing people familiar with the matter.
The moves comes after the Texas-based computer maker agreed last month to be taken over by its founder and CEO Michael Dell and private equity firm Silver Lake Partners for $24.4 billion. (See: Dell sells itself to Michael Dell and Silver Lake in a $24.4 billion deal)
The potential interested bidders will take advantage of the "go-shop" period to access Dell's books, but it's unlikely that any one of the computer makers will bid, the report said.
Dell's special committee headed by lead director Alex Mandl said in a statement yesterday that it negotiated aggressively to secure the best price and would extend the period for soliciting higher bids till 22 March.
But the $13.65-a-share bid has been opposed by some of Dell's biggest investors, mainly by Southeastern Asset Management, one of Dell's largest investors with 8.5-per cent stake and T. Rowe Price Group Inc.
Southeastern believes the offer price is much too low and values the company at $23.72 a share if its financial services unit, recent acquisitions and other assets were factored in.