Michael Dell is facing two rival offers for his computer company as he attempts to take in private. Investor Carl Icahn and private equity firm Blackstone Group both topped his offer, sending Dell's shares soaring. Here is the FT:
Michael Dell has said he is willing to “explore in good faith” the possibility of working with Blackstone or Carl Icahn, after they each moved to top the $24.4bn buyout bid he made with Silver Lake Partners for the company he founded.
Dell’s special committee said it had not yet determined if either Blackstone’s offer of at least $14.25 a share for the whole company or Mr Icahn’s offer of $15 for 58 per cent of the company constituted a superior proposal to the one on the table.