NEW YORK -- A special committee of Dell's (DELL - Get Report) board is evaluating separate takeover bids for the world's No. 3 PC maker from Blackstone Group (BX) and Carl Icahn, according to reports over the weekend.
Founder Michael Dell and a group of investors, including private-equity firm Silver Lake, announced a $24.4 billion bid for the PC maker in February. Friday marked the end of a 45-day period that Dell's board set to allow for offers that might top that deal to take the company private.
Icahn has offered $15 a share for 58% of Dell, while Blackstone has proposed paying more than $14.25 a share, a source told Reuters. Michael Dell and the Silver Lake group had agreed to buy all of Dell for $13.65 a share.
Dell could make an announcement as soon as Monday about whether the rival offers might lead to a superior bid, the source told Reuters.
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Sonic (SONC - Get Report), the drive-in restaurant chain, is expected to post fiscal second-quarter earnings of 5 cents a share on revenue of $112.7 million.
-- Written by Joseph Woelfel
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