Filings Reveal Dell's Struggle to Stir Takeover Interest
ROUND ROCK, Texas -- New regulatory filings show that Dell's (DELL) financial advisers tried to persuade 71 potential bidders to make an offer for the troubled personal computer maker before two of them emerged to challenge a proposed deal with the company's founder.
The wide-ranging efforts to ignite a bidding contest are among the details disclosed in the documents filed Friday. They outline the chain of events leading up to the deal calling for Dell Inc. to be sold for $24.4 billion to CEO Michael Dell and a group led by Silver Lake Partners.
The documents also outline the subsequent attempts to find suitors willing to pay more for the world's third largest computer maker. Buyout specialist Blackstone Group (BX) and billionaire investor Carl Icahn ultimately decided to join the bidding.
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