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SMB Nation has been serving the Bainbridge Island area since 2001, providing IT Support such as technical helpdesk support, computer support, and consulting to small and medium-sized businesses.

Let’s Go to the Mall: Two Companies Take Advantage of Dell’s “Go-Shop” Process

Back in January, we reported that Dell signed an agreement to be acquired via partnership by Founder Michael Dell and global investment firm Silver Lake for $24.4 billion, which included a 45-day “go-shop” process. Well apparently it seems that two companies have taken advantage of the Dell “mall.” The Special Committee of the Board of said that one proposal was submitted by a group affiliated with a private equity fund managed by Blackstone and the other by entities affiliated with Carl Icahn.

According to a press release issued by Dell this morning regarding the proposals, the company offered the following: “As the Board's Special Committee continues to oversee its process, we remain focused on our customers and on providing innovative products and solutions to help them succeed and better compete in the marketplace.”

The Special Committee, consisting of four independent and disinterested directors, has determined, after consultation with its independent financial and legal advisors, that both proposals could reasonably be expected to result in superior proposals, as defined under the terms of the existing merger agreement. Therefore, each of the Blackstone and Icahn groups is an “excluded party” and the Special Committee intends to continue negotiations with both.

The Special Committee also noted that Michael Dell has confirmed to the Committee his willingness to explore in good faith the possibility of working with third parties regarding alternative acquisition proposals.
It will be interesting to see who will gain private control of the “Big Texas” tech giant, once “the trip to the Dell mall” concludes and negotiations are complete.

Check back here in the coming days for additional information on this ongoing news story.

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Sunday, 26 May 2019