Tagged: Dell

Michael Dell may be the last man standing as he fights to take his company private.  Today, rival bidder The Blackstone Group dropped out.

It was David Johnson, formerly Michael Dell’s key turnaround executive, who led the Blackstone offer.  Johnson left Dell in January.  Today his group withdrew its bid, saying in a letter obtained by the Wall Street Journal that Dell’s outlook and finances are worse than they thought.

Michael Dell may need to increase a $24.4 billion offer to buy out one of the largest employers in Central Texas. That’s after two new acquisition offers emerged today for Round Rock-based Dell.

Round Rock-based Dell is facing a key deadline tonight in efforts to take the company private. A so-called “go shop” time period ends at midnight, when a Dell special committee will stop actively seeking alternative bids to the current $24.4 billion buyout offer.

But St. John’s University business law professor Anthony Sabino says the buyout is not a done deal at midnight.

Dell has agreed to open its books to billionaire investor Carl Icahn. The company’s founder, Michael Dell, is leading a group of investors who want to buy out the company and take it private for $24.4 billion. Several major investors have said that undervalues the Round Rock-based company.

Now, Icahn says he has signed a confidentiality agreement that allows him to dive deeply into Dell’s financial information. Anthony Michael Sabino is a business professor at St. John's University.

Good morning. Austin's in for partly cloudy weather with a seasonal high in the 70s, according to the National Weather Service.

Lead Story: There’s a new two-year labor contract for Austin bus drivers.

McDonald Transit operates about 70 percent of Capital Metro’s fixed route bus service.  It has signed a two-year labor contract with Amalgamated Transit Union 1091, which represents the drivers and mechanics, after being ratified with a union vote of 91 percent.