Services, software driving company, hardware and consumer show heavy losses
Dell today announced fiscal 2014 first quarter results, with revenue of $14.1 billion, as the company grew revenue from Enterprise Solutions, Services and Software 12 percent year over year to $5.5 billion, or 8 percent growth, excluding the recent acquisition of Quest Software. The company earned $0.21 per share, not quite meeting Wall Street estimates.
Carl Icahn, Michael Dell offers still alive
Blackstone Group is ending its offer for control of Dell, citing a 14-percent drop in PC sales for the first quarter of 2013 and a lower earnings forecast for the current financial year. The withdrawal of Blackstone leaves founder Michael Dell and equity partner Silver Lake to fight with Carl Icahn for ownership of the PC manufacturer.
Carl Icahn, Blackstone behind competing offers
According to reports, Dell has received two or more offers opposing the $24.4 billion deal on the table to take the company private. As expected, the Blackstone Group submitted a preliminary offer prior to Saturday's expiration, under the terms of the "go shop" clause in the agreement, which allowed Dell to seek other suitors. A second offer was received by investor Carl Icahn who purchased a large block of shares a few weeks ago.
No offer on the table as of yet, Icahn has worked with Blackstone previously
According to a report on Bloomberg, the Blackstone Group -- a rival to Silver Lake Partners -- is planning a competitive bid for Dell. Under the "go-shop" provision of the buyout deal floated by Silver Lake and investors (including Michael Dell himself), Dell's board of directors has through March 22 to seek better offers for the companies, and can still negotiate with suitors past that date if it receives a serious offer.
Thomas Lee Partners to buy all of Yahoo: sources
The latest bidder in the potential Yahoo takeover is Thomas H. Lee Partners, Reuters learned. THL is said to be looking at a leveraged buyout of Yahoo's US business, which could be worth between $5 and $6 billion. THL has run other media companies such as Nielsen Co, Clear Channel, and Univision.