Who Will Eventually Buy Dell?

Computer company Dell (News - Alert) has been coming under increasing pressure from numerous companies intent on a buyout. Among the groups that are looking to take over the company is one that is actually led by the company’s founder, Michael Dell. While there was a time when it was expected that his buyout attempt would succeed, it hasn’t yet and there are signs that someone else could swoop in and grab the company out from under him.

The Wall Street Journal has reported that Blackstone Group, which has long been known as a buyout specialist, has shown interest in the company now that there appears to be solid proof that it is actually for sale. Carl Icahn has also stepped forward and announced that he has interest in the company. Icahn has gone so far as to announce to a special “buyout board” that he has an interest in the company.

Michael Dell and a group of investors he was able to round up announced that they had offered as much as $24.4 billion early in February. The Dell board then gave itself a 45-day window to decide whether or not they would actually accept that buyout bid. The deadline to make a decision came and when on Friday, March 22 without a firm answer.

The Icahn and Blackstone groups, with the notification that they also wish to enter bids will give them four more days to come up with the amounts they want to try and pry the company away with.

Michael Dell’s offer amounts to about $13.65 a share and both of the other companies that are looking to make a purchase have said that the amount is far too low. Shares for the company actually closed at $14.14 on Friday because investors believed the company would sell for more money. With the deadline to decide who to sell to and when come and gone yet again, it would appear that there is going to be more intrigue, with the possibility of even more buyout companies looking to get a piece of Dell.

The company did say that some light would be shed on the entire buyout process when it filed papers within the next week.