Business

Wednesday 23 October 2019

Rival takeover bid for Dell launched

Michael Dell
Michael Dell
Donal O'Donovan

Donal O'Donovan

Two Dell shareholders have launched a new takeover bid for computer maker, rivalling founder Michael Dell’s $24.4bn offer for the company.

Investor Carl Icahn and Southeastern Asset Management have tabled an alternative bid that would hand shareholders $12 per share and still allow them to keep their stake in the business.

Dell employs around 2,000 people in Ireland at its sites in Limerick and Dublin. That is down from more than 5,000 when Ireland was home to its major European manufacturing facility.

Icahn and Southeastern are reported to have made their proposal in a letter to Dell's board sent yesterday.

The new bid is the latest after Michael Dell proposed his “take private” bid to buy Dell back from the stock market and after private equity giant Blackstone launched a separate offer for Dell, that was eventually pulled in April.

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