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Dell buyout bid deadline approaches | Dell buyout bid deadline approaches |
(about 7 hours later) | |
A deadline expires on Friday for other bidders to put in offers that top Michael Dell's bid for personal computer maker Dell. | A deadline expires on Friday for other bidders to put in offers that top Michael Dell's bid for personal computer maker Dell. |
The 45-day window has been in place for others to top the $24.4bn (£16bn) bid to sell Dell to its founder and chief executive and a group of investors. | The 45-day window has been in place for others to top the $24.4bn (£16bn) bid to sell Dell to its founder and chief executive and a group of investors. |
Reports say New York's Blackstone Group could be ready to exceed the current bid of $13.65 per share. | Reports say New York's Blackstone Group could be ready to exceed the current bid of $13.65 per share. |
Dell says the deadline may be extended if other suitable investors emerge. | Dell says the deadline may be extended if other suitable investors emerge. |
The Texas-based firm has promised to provide extensive details about the sales process in regulatory documents to be filed next week. | The Texas-based firm has promised to provide extensive details about the sales process in regulatory documents to be filed next week. |
The Dell board committee that negotiated the current deal says it is selling the firm at a fair price, despite some analysts saying it could be worth more. | The Dell board committee that negotiated the current deal says it is selling the firm at a fair price, despite some analysts saying it could be worth more. |
And Dell's largest independent shareholder, Southeastern Asset Management, says Mr Dell's offer "grossly undervalues the company". | And Dell's largest independent shareholder, Southeastern Asset Management, says Mr Dell's offer "grossly undervalues the company". |
The computer maker has been hit by a consumer move to tablets and is diversifying into more profitable areas of technology, such as business software, data analytics and storage. | The computer maker has been hit by a consumer move to tablets and is diversifying into more profitable areas of technology, such as business software, data analytics and storage. |
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