Icahn Unlikely to Follow Through on Preliminary Dell (DELL) Bid

April 19, 2013 3:50 PM EDT Send to a Friend
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(Updated - April 19, 2013 4:03 PM EDT)

Activist Carl Icahn is holding out on a potential hostile bid for PC maker Dell (Nasdaq: DELL), according to sources cited by DJ. The news follows a report early today that Blackstone has withdrawn its bid after Q1 PC shipments dropped 14 percent. This led to early calls by a number of analysts who predict Michael Dell and Silver Lake's $13.65 per share offer will take the prize.

Blackstone and Icahn were two entities that submitted preliminary bids during Dell's go-shop period.

Earlier, Jefferies Peter Misek said Dell was unlikely to get a higher bid after Blackstone withdrew. He still sees potential for Silver Lake to raise its bid but added that in an alternative scenario the deal could fall through. If a buyout or leveraged recap doesn't happen, shares could fall toward $10, thinks Misek.


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