Updated from 8:27 a.m. ET with additional commentary and data throughout.
NEW YORK ( TheStreet) -- The biggest private equity buyout since the financial crisis has received a reboot after Dell (DELL) said on Monday it has two new takeover proposal that trump a $13.65 a share offer the company struck with founder Michael Dell and private equity firm Silver Lake Partners in early February.
A special committee seeking a higher takeover price for Dell said that a consortium of investors led by the Blackstone Group (BX) have submitted a $14.25 a share propsal that would allow Dell shareholders either to receive a cash payment at that value or continue to own their publicly traded holding. Francisco Partners and Insight Venture Management will participate in the Blackstone investor group.
Dell also received a $15 a share bid from Carl Icahn's holding company, Icahn Enterprises (IEP), which will roll the activist investor's $1 billion stock stake into a takeover and use a mix of stock, debt and financing from Dell's factoring business to fund the deal.To be seen is whether the Michael Dell-led consortium will try to improve on their February 5 offer to take the struggling PC giant private. Were Michael Dell to remain a participant in negotiations, he will now have disclose his projections for valuing a bid notes Alex Khutorsky, a managing director at M&A advisory The Valence Group. "Any competitor coming in with a bid between
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