Many people have assumed that Blackstone's preliminary proposal to lead a leveraged buyout of Dell, one that leaves a public stub, has for the most part been taken seriously. That Michael Dell himself is contemplating a switch from Silver Lake to Blackstone would appear to be a confirmation of this.
In the aftermath of what appears to be a successful go-shop period, it's clear that Michael Dell will do whatever it takes to preserve his role as the only CEO his company has ever known.
In the still-unfolding Dell buyout drama, the board's special committee, which was set up to evaluate bids, has no choice but to go overboard in its efforts to find the best possible deal. It has every reason to be transparent about its efforts to. The last thing it wants is to leave itself open to charges that it was somehow less than vigilante in this task.
Without question, any company offering to buy Dell will gain an advantage if they could persuade founder Michael Dell to join their cause. For now, he remains aligned with Silver Lake and Microsoft, though the conventional wisdom holds that he's amendable to switching sides and joining Blackstone if that will increase his chances at taking his company private.
Actively managed exchange-traded funds (ETFs) have been on the investing horizon for quite a while now.
It didn't long for institutional money to flood into the real estate market at the ground level.
Most people had assumed that Michael Dell had cast its lots with Silver Lake and Microsoft, forming a solid group that put together the initial buyout offer for his eponymous company--one that has set in motion an amazing series of events.
No one thinks that Michael Dell will give up without a fight. So the attention in the riveting Dell Computer leveraged buyout drama has turned to what he will do next.
When Michael Dell announced he would take his eponymous computer company private in an old-style management-led LBO, people doubted that a competing offer would be able to top it.
It's entirely possible that Michael Dell's computer company may be wrestled away by outsiders.