buyout

Softbank ups Sprint offer to $21.6B

As the battle between SoftBank and Dish in the takeover of Sprint increasingly heats up, SoftBank has announced that it will raise its offer to from $20.1 billion to $21.6 billion.

SoftBank said Monday that the amended merger agreement will give shareholders a greater value, including greater cash consideration and increased certainty.

Under the new agreement SoftBank said it will deliver an additional $4.5 billion of cash to Sprint stockholders at closing, which brings the total cash consideration available to Sprint stockholders to $16.64 billion. This offer would also give SoftBank a higher stake in Sprint … Read more

Dell asks shareholders to vote in favor of founder's deal

Michael Dell might soon have his way with the company he founded.

Dell announced today that it has filed materials with the Securities and Exchange Commission (SEC) that will allow it to hold a shareholder meeting on July 18 to approve the transaction Michael Dell and investment firm Silver Lake recently brought to the table. Under the terms of the deal, Michael Dell and Silver Lake, with some help from Microsoft, will acquire all remaining shares in the company that the founder doesn't own for $13.65 per share.

According to Dell, the company's entire board of directors, … Read more

Hulu buyout heats up with four reported bidders

Companies looking to get a piece of the Hulu pie had until this week to put in their first round of bids for the video streaming service. And, it appears that four companies have gone in for a slice.

Former News Corp president Peter Chernin, private equity fund Guggenheim Digital Media (which is headed the former interim Yahoo CEO by Ross Levinsohn), satellite operator DirecTV, and cable operator Time Warner Cable have all put in bids, according to Reuters.

Hulu has supposedly been looking for a buyer over the past couple of years, and recently several companies have allegedly expressed … Read more

Yahoo said to be courting Hulu for video unit

It's looking like a possible Hulu buyout may be heating up. Reportedly, Yahoo's CEO Marissa Mayer recently met with the video streaming company's corporate owners, according to AllThingsD.

Hulu has been rumored to be looking for a buyer over the past couple of years and recently several companies have allegedly expressed interest. Of those said to have reached out to Hulu's execs are Ross Levinsohn, the former interim Yahoo CEO who now works for Guggenheim Partners. Yahoo and Amazon have also allegedly expressed interest.

Now, it seems like Yahoo may be upping it's pursuit.

It'… Read more

Michael Dell promises greater investment in PCs and tablets

Michael Dell has revealed more details about his plans for the company if and when it goes private.

A memo from the Dell CEO to employees was included yesterday in a filing with the Securities and Exchange Commission and outlined a slew of costly promises for a restructured Dell.

One such promise is to invest more in PCs and tablets. Like many PC makers, Dell has tried to carve out a large chunk of the corporate market with servers, network gear, and other IT products. Michael Dell noted last year that the company has become more focused on IT services.… Read more

Dell cites uncertain prospects for PCs, Windows 8 in SEC filing

Dell painted a somewhat bleak depiction of its prospects in a recent SEC filing.

In a 274-page filing on Friday, the PC maker indicated market and product challenges on several fronts. In the filing, Dell makes a case for accepting a $24.4 billion offer to go private so it can be in a better position to deal with the myriad challenges facing the company.

Those included "the deteriorating outlook for the PC market as a result of, among other things, smartphones and tablets cannibalizing PC sales," according to the filing.

The SEC filing also cited "the … Read more

Dell CEO said to mull Blackstone buyout only with CEO assurance

It was assumed just a couple of months ago that Dell would go private with a $24.4 billion buyout under founder and CEO Michael Dell and private equity firm Silver Lake.

But several wrenches have been thrown into that plan.

Dell confirmed earlier this week that it had two possibly "superior" buyout bids, one coming from activist investor Carl Icahn and the other from private equity firm Blackstone. This means that if one of these two other potential bidders gets the prize, there could be a monumental power shift in the company.

Michael Dell is allegedly now … Read more

Blackstone, Icahn to make offers to buy Dell -- reports

Asset-management firm Blackstone Group has reportedly submitted a tentative offer to buy Dell, rivaling a $24.4 billion offer from founder Michael Dell and investment firm Silver Lake, which was announced last month.

Both Bloomberg and The New York Times are citing unnamed insiders in reporting the preliminary deal proposal, which, Bloomberg said, will commit Blackstone to hold takeover discussions with Dell. The letter was reportedly sent last night, and, Bloomberg said, Dell has till Tuesday to respond.

Details of the proposal were not available, and it's not known if Dell will go along. Bloomberg said Blackstone wouldn't … Read more

Mark Hurd reportedly contacted about running Dell after buyout

Mark Hurd, the former chief executive at Hewlett-Packard, has reportedly been approached by an investment group about the possibility of running rival Dell if its buyout effort of the computer maker is successful.

Private-equity firm Blackstone, which is reportedly making a bid for Dell to rival a $24.4 billion buyout offer from Silver Lake and Michael Dell, has discussed the position with Hurd, a person with knowledge of the matter told Bloomberg. Earlier today, Fortune reported that Hurd was one of Blackstone's top candidates to run the computer maker if its bid were successful and Dell founder Michael … Read more

Dell buyout could be impeded by possible Blackstone bid

Blackstone is reportedly looking to get its hands on Dell before the Silver Lake and Michael Dell $24.4 billion buyout is complete.

According to Bloomberg, the asset management firm is supposedly considering a bid that could out-do what Silver Lake offered for the Dell acquisition. People familiar with the matter told Bloomberg that Blackstone has not yet made a decision and that it may bid as part of a group of investors. Reportedly, Blackstone has already reviewed Dell's finances after signing a non-disclosure agreement.

Dell announced in February that it had plans to take the company private via … Read more