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Icahn Opens Door To Blackstone Group LP Tie-up On Dell Inc Bid-Reuters

Monday, 25 Mar 2013 09:15pm EDT 

Reuters reported that two of the most prominent U.S. investors could upset Michael Dell's $24.4 billion buyout bid for Dell Inc, after Carl Icahn opened the door to an alliance with Blackstone Group LP to wrest control of the computer maker from its founder. Icahn said on Monday he has started preliminary talks with Blackstone. Both sides have made bids that could be superior to the offer on the table from Michael Dell and private equity firm Silver Lake Partners LP. The backroom negotiations show how what started as a plan by Michael Dell and Silver Lake to take the PC maker private could turn into a months-long process. Icahn has proposed paying $15 per share for 58% of Dell. Blackstone has indicated it can pay more than $14.25 per share for the whole of the company, all in cash or partly in shares, leaving Dell as a publicly listed company. The Silver Lake-backed group offered $13.65 per share in cash to take Dell private. Dell, Silver Lake and Blackstone declined comment. Icahn, who owns a $1 billion stake in Dell, said both his and Blackstone's offers give the Company's largest investors what they wanted most: the ability to retain publicly traded shares of Dell. 

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