Global private equity and venture capital news and research

Blackstone to visit Dell headquarters

5 Apr 2013

Dell laptopIn more bad news for Michael Dell, Blackstone has reportedly arranged to visit Dell’s headquarters to kick off an in-depth analysis of the computer company.

The New York-based private equity firm is currently working with chief executive and founder Michael Dell to put together a business plan and would prefer to retain him if its bid was successful, said Reuters, citing sources familiar with the matter.

Blackstone and billionaire investor Carl Icahn have already made preliminary offers that could prove superior to the $24.4bn joint Dell-Silver Lake bid.

Icahn has previously attacked Dell’s offer, arguing that it short-changed shareholders and bought a stake in the company to gain access to its books.

It was previously reported that Blackstone contacted Oracle CEO Mark Hurd about potentially running the company following the take-private.

Other executives that are being considered for CEO and board positions include Cisco director Michael Capellas, for head of services at IBM Michael Daniels and Hewlett-Packard’s PC boss Todd Bradley, sources told Reuters.

Last month it was reported that Blackstone and Icahn were exploring a joint bid for Dell.

The deal could be the biggest leveraged buyout since the onset of the global financial crisis, and is the largest since a Blackstone-led consortium bought semiconductor company Freescale for $17.5bn in 2006.

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