buyout

Michael Dell promises greater investment in PCs and tablets

Michael Dell has revealed more details about his plans for the company if and when it goes private.

A memo from the Dell CEO to employees was included yesterday in a filing with the Securities and Exchange Commission and outlined a slew of costly promises for a restructured Dell.

One such promise is to invest more in PCs and tablets. Like many PC makers, Dell has tried to carve out a large chunk of the corporate market with servers, network gear, and other IT products. Michael Dell noted last year that the company has become more focused on IT services.… Read more

Dell cites uncertain prospects for PCs, Windows 8 in SEC filing

Dell painted a somewhat bleak depiction of its prospects in a recent SEC filing.

In a 274-page filing on Friday, the PC maker indicated market and product challenges on several fronts. In the filing, Dell makes a case for accepting a $24.4 billion offer to go private so it can be in a better position to deal with the myriad challenges facing the company.

Those included "the deteriorating outlook for the PC market as a result of, among other things, smartphones and tablets cannibalizing PC sales," according to the filing.

The SEC filing also cited "the … Read more

Dell CEO said to mull Blackstone buyout only with CEO assurance

It was assumed just a couple of months ago that Dell would go private with a $24.4 billion buyout under founder and CEO Michael Dell and private equity firm Silver Lake.

But several wrenches have been thrown into that plan.

Dell confirmed earlier this week that it had two possibly "superior" buyout bids, one coming from activist investor Carl Icahn and the other from private equity firm Blackstone. This means that if one of these two other potential bidders gets the prize, there could be a monumental power shift in the company.

Michael Dell is allegedly now … Read more

Blackstone, Icahn to make offers to buy Dell -- reports

Asset-management firm Blackstone Group has reportedly submitted a tentative offer to buy Dell, rivaling a $24.4 billion offer from founder Michael Dell and investment firm Silver Lake, which was announced last month.

Both Bloomberg and The New York Times are citing unnamed insiders in reporting the preliminary deal proposal, which, Bloomberg said, will commit Blackstone to hold takeover discussions with Dell. The letter was reportedly sent last night, and, Bloomberg said, Dell has till Tuesday to respond.

Details of the proposal were not available, and it's not known if Dell will go along. Bloomberg said Blackstone wouldn't … Read more

Mark Hurd reportedly contacted about running Dell after buyout

Mark Hurd, the former chief executive at Hewlett-Packard, has reportedly been approached by an investment group about the possibility of running rival Dell if its buyout effort of the computer maker is successful.

Private-equity firm Blackstone, which is reportedly making a bid for Dell to rival a $24.4 billion buyout offer from Silver Lake and Michael Dell, has discussed the position with Hurd, a person with knowledge of the matter told Bloomberg. Earlier today, Fortune reported that Hurd was one of Blackstone's top candidates to run the computer maker if its bid were successful and Dell founder Michael … Read more

Dell buyout could be impeded by possible Blackstone bid

Blackstone is reportedly looking to get its hands on Dell before the Silver Lake and Michael Dell $24.4 billion buyout is complete.

According to Bloomberg, the asset management firm is supposedly considering a bid that could out-do what Silver Lake offered for the Dell acquisition. People familiar with the matter told Bloomberg that Blackstone has not yet made a decision and that it may bid as part of a group of investors. Reportedly, Blackstone has already reviewed Dell's finances after signing a non-disclosure agreement.

Dell announced in February that it had plans to take the company private via … Read more

Dell board said to be meeting tonight to vote on buyout deal

Rumors of a Dell buyout deal have been swirling for the past few weeks and now word is that Dell's board plans to vote tonight on whether to take the company private, according to Bloomberg.

The deal would offer Dell shares at $13.50 to $13.75 each, which totals around $24 billion, sources familiar with the negotiations told Bloomberg. The buyout could be announced as early as tomorrow morning.

Reportedly Microsoft, private equity firm Silver Lake Management, and company CEO Michael Dell will all contribute sizable investments in the deal. Michael Dell is expected to contribute $700 million, … Read more

Dell closing in on $23B deal to go private -- WSJ

Dell is reportedly close to finalizing a deal to go private -- but it's still not there yet.

The Wall Street Journal reported today that the PC maker is nearing a buyout deal worth $23 billion, or between $13.50 and $13.75 per share.

According to the WSJ, here's how the plan is supposed to break down:

CEO Michael Dell will contribute his 16 percent stake, which is valued at $3.7 billion. An investment firm he controls will contribute another $700 million. Microsoft will invest $2 billion in the form of a "subordinated debenture," … Read more

Dell buyout deal could happen Monday -- Reuters

Dell may be close to a deal that would take the PC maker private, Reuters reported this morning.

Citing "two people familiar with the matter," the news service reported that the company could announce an agreement as early as Monday. Expectations are that Dell would be bought out by a group led by its CEO and private equity firm Silver Lake Partners.

Later in the day, Reuters published a separate report, also citing two people familiar with the matter, saying that Michael Dell and partners were negotiating with the company at a price of $13 to $14 per … Read more