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Dell tipped to be talking to Evercore pre buyout Dell tipped to be talking to Evercore pre buyout
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Dell tipped to be talking to Evercore pre buyout
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Old 22nd January 2013, 07:05   #1
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Default Dell tipped to be talking to Evercore pre buyout

Dell may be hiring a firm in a bid to make as much money as it can with its rumoured buyout.

According to Bloomberg, sources have speculated that the company may be seeking the expertise of Evercore Partners.

It is said that the firm will seek to work with a special committee of the board and to review if the company could get a better offer than that offered by Silver Lake Management LLC, which is considering taking the company private.

Silver Lake and its partners are said to be offering around $15 billion for a buyout of the company, however, Dell is estimated to be worth between $23 billion and $24 billion, one of the two sources suggested.

The two sources have spoken following the news last week that Dell was in talks with private equity firms on a potential buy out with negotiations spanning three months.

It comes as the company lost around 40 percent of its value since last year, acquiring debts of $4.5 billion.

Michael Dell, who owns around 14 percent of the company, has also been pushing to take the firm private.

JPMorgan has been named as the main bank holding the talks with Silver Lake, however, according to the two sources, Evercore will help smooth the waters - potentially stopping lawsuits and calm criticisms of the buyout. Evercore will also keep an eye out for higher offers from any other companies.

http://news.techeye.net/business/del...ore-pre-buyout
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