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Dell Special Committee Receives Two Alternative Proposals - Quick Facts

The Special Committee of the Board of Dell Inc. (DELL) announced that the "go-shop" period has elicited two alternative acquisition proposals. One proposal was submitted by a group affiliated with a private equity fund managed by Blackstone, and the other by entities affiliated with Carl Icahn.

The Blackstone proposal offers to enter into a definitive agreement to acquire Dell in a leveraged recapitalization transaction where shareholders could choose to receive either all cash or stock (subject to a cap), in each case valued in excess of $14.25 per share.

The Icahn proposal offers Dell shareholders to elect to receive either: shares of the Surviving Company on a one-to-one basis with their current holdings; or an aggregate of up to $15.65 billion in cash payable at a rate of $15 per share.

The Special Committee has determined that both proposals could reasonably be expected to result in superior proposals. The Special Committee said Michael Dell has confirmed to the Committee his willingness to explore in good faith the possibility of working with third parties regarding alternative acquisition proposals.

by RTT Staff Writer

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