- RUSSIA : Court Sets One Pussy Rioter Free; Fame Brings 70 Year Closure For Eurovision Folk Singer.
- USA / SOCIAL MEDIA / GUN CULTURE: Santa Leaves Heat As Xmas Treats.
- MEXICO : Gulfo Narco Boss 'El Coss' Caught In Tampico; Arrested Pozos Gonzalez Proud Of Golden AK-47.
- UZBEKISTAN: 23 Aug UPDATE: GooGoosha Responds To Critics; Ruthless Dictator's Daughter Seeks Fame With Pop Career.
- URUGUAY: Foreigners Rush To Buy Farm Land.
- RUSSIA / CZECH REP : 30 Dec UPDATE: Probe Begins Of Moscow Plane Crash That Killed 5, Injured 3.
- SERBIA / LIBYA : Are Serbian Mercenary Pilots Bombing Protestors In Tripoli?
- ARGENTINA: Bond Appeal Surging On Exports And Debt Restructure; Beating Ukraine For Yield For Now.
- MEXICO / USA : Wanted Narco Billionaire's 'Daughter' Arrested In San Diego.
- ART / HUMOR / SPAIN : 27 August UPDATE: Clever Jokers Post Their 'Restored' Versions Of Famous Images.
23 March 2013
AUSTIN / TECHNOLOGY: 26 Mar UPDATE: Dell LBO...Becomes 3-Way...As Icahn And Blackstone Jump In With Higher Offers; Reforming Dell...Without Its Founder?
And, then...there were 3.
The deep-pockets equity firm Blackstone Group...and notorious billionaire corporate raider Carl Icahn...joined founder/CEO Michael Dell and hedge fund partner Silver Lake...in the battle to take Round Rock, Texas-based...#3 PC maker Dell Inc...private.
At the very end of the 45 day 'go-shop' period...Blackstone and Icahn submitted preliminary offers.
CEO Dell and Silver Lake have offered $13.65 per share...or $24.4 billion.
Now Icahn is said to be offering $15 per share...while Blackstone is offering $14.25.
Icahn is even open to joining with Blackstone in a partial LBO.
Some funds and stockholders claim Michael Dell was seriously low balling the value of the company he founded...trying to pick it up cheaply.
Dell and his family own 15.6% of the shares....but cannot vote on his LBO offer.
The second largest stockholder...Southeastern Asset claims the shares are worth $24.
The T. Rowe Price fund also believes the $13.65 deal...is a steal.
Icahn had previously proposed Dell issue a $9 per share special dividend.
Dell Inc has $9 billion in cash overseas...and generated $3.7 billion in profits in 2012.
It employs 14,000 workers in Central Texas.
Michael Dell and Silver Lake are allowed only one bid revision.
There is also much speculation that the new bidders envision a Dell Inc...without Michael Dell as CEO.
Disgraced former Hewlett Packard CEO Mark Hurd's name is frequently mentioned.
The suitors may lust only for his shares...not his faltering and suspect vision.
On Monday...Dell shares closed up 2.6%...at $14.51.