Michael Dell's $24.4 billion deal for Dell Inc., carefully crafted over six months, has gotten much more complicated.

Dell's board, seeking bids higher than last month's offer from the company's founder and Silver Lake Management LLC, has attracted interest from Blackstone Group LP as well as rival computer makers Hewlett-Packard Co. and Lenovo Group Ltd., said people familiar with the matter, who asked not to be identified because the matter is private. Billionaire Carl Icahn is also pushing the company to pay out a $9 a share special dividend.

With Dell's two biggest outside shareholders already opposing the deal, the fresh interest will only increase pressure on Michael Dell to raise his offer and consider alternative financial partners. While Dell's competitors are unlikely to bid, the people said, the company's shares have now risen well beyond the deal price to a nine-month high.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.