Consumer Electronics
Michael Dell Could Team With Blackstone
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Michael Dell may not lose his job, even if his partnership with private equity firm Silver Lake Partners does not result in the intended takeover of Dell Inc. (NASDAQ: DELL). Apparently another suitor — Blackstone Group L.P. (NYSE: BX) — may team with Dell and the founder of the PC company, if he abandons his former buyout partners. Michael Dell means to keep his position, it seems, at the price of loyalty to any party.
Source: courtesy Dell Inc.
According to The Wall Street Journal:
Blackstone also values Mr. Dell’s strategic importance in the company’s management, seeing him as an important potential ally if the Blackstone-led bid prevails, according to a person familiar with the matter.
Terms of the takeover offer by Mr. Dell and Silver Lake include $13.65 a share for Dell. Blackstone offered at least $14.25 a share, while allowing shareholders to retain some of their stock.
Once again in the business world, greed trumps allegiances almost every time.
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