Michael Dell’s proposed buyout of the personal computer company he founded almost 30 years ago and shares his name with has been rocked by two rival bids.
HumanIPO reported in February Mr Dell had put together a US$24 billion offer with the support of Silver Lake Partners and Microsoft for the publicly listed company which valued shares at US$13.65 each.
It was previously thought the consortium would face little competition, but Blackstone, the world’s largest private equity group, and billionaire investor Carl Icahn have reportedly each entered the race.
The two rival bidders have submitted “expressions of interest” rather than formal bids.
Reuters have reported Blackstone is offering up to 10 per cent more than Mr Dell per share.
Dell was publicly listed 24 years ago and was successful through the online sale of cheap PCs. However, it now only has 10 per cent of the global PC market share and has said it will concentrate on software and services for corporate clients.
