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The Blackstone Group (NYSE:BX): Current price $20.21
Knowledgeable sources say that Blackstone is considering an offer for Dell, as it seeks bids to compete with the proposed $24.4 billion buyout by Michael Dell and Silver Lake Management. The sources also related that Blackstone might bid as part of a group including other investor, but the private-equity firm has not made a decision. Through the go-shop provision of the Silver Lake merger agreement, Dell’s board has through March 22 to seek superior proposals, and can negotiate even past that date if it receives an offer it thinks serious. An offer from Blackstone would intensify the pressure on Michael Dell and Silver Lake to hike their $13.65-per-share bid after Dell’s two largest outside shareholders already opposed what would be the largest leveraged buyout of a technology company since the financial crisis.
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