A special committee of Dell's board of directors said on Wednesday after a months-long evaluation that the best alternative for shareholders would be a sale of the PC maker.
The group, which had been analysing Dell's situation for more than five months, said that it had "negotiated aggressively" to ensure shareholders got the best possible value in agreeing to founder Michael Dell's $13.65 per share offer to take the company private.
In related news, Bloomberg on Wednesday reported that Lenovo and HP, along with New York-based global investment and advisory firm Blackstone Group, have all taken advantage of the go-shop period to assess Dell's financial condition by examining that company's record books.
Dell, which was mulling a $24 billion-plus ($A23.6 billion) move to go private as a way to restructure itself to focus on becoming an enterprise solution provider away from Wall Street scrutiny, has had to open its books to potential suitors who might respond with offers more acceptable to Dell's existing investors.
The go-shop period was scheduled to last 45 days from the original Feb. 5 announcement of the proposed leveraged buyout.
Many of those investors, including Dell's largest outside investor, Southeastern Asset Management, are questioning whether the existing $13.65-per-share leveraged buyout offer is in the best interests of Dell investors.
While Dell rivals HP and Lenovo have peered into Dell's financials during the go-shop period, the unnamed sources cited by Bloomberg said they do not expect competitive offers to invest in Dell.
HP, Lenovo, and Dell spokespeople told CRN their companies are declining to discuss the Bloomberg report.
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