Blackstone Group has reportedly sent a preliminary counterbid to buy out Dell, which would rival the current proposed offer of US$24.4 billion from Silver Lake Partners and Michael Dell made in early February.
Blackstone, an equity firm, submitted its offer to Dell on Friday, the New York Times reported, citing unnamed sources. The offer sets the stage for Dell to hold discussions with Blackstone about a possible buyout, and Dell has until Tuesday to respond to the offer, according to media reports.
Blackstone's proposed counterbid is in the price range of between $13.65 and $15 per share, according to a report in the Wall Street Journal on Saturday. That either matches or exceeds the $13.65 per share offered by Michael Dell and equity investor Silver Lake to take the company private.
In a letter sent to Dell, Blackstone envisions shedding Dell's financial services division as part of the buyout deal. Blackstone has already discussed selling that division to GE Financial Services, the Journal reported, citing anonymous sources.
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