Blackstone Said to Approach Hurd About Running Dell After Buyout
Blackstone Group LP (BX), which is considering a bid for Dell Inc. (DELL), has approached Oracle Corp. (ORCL) President Mark Hurd about running the computer maker, according to a person with knowledge of the matter.
The private-equity firm hasn’t made a formal offer to Hurd, said the person, who asked not to be identified because the overture was private. Blackstone is considering whether to make a rival proposal to Dell’s planned $24.4 billion buyout by its founder, Michael Dell, and Silver Lake Management LLC, people with knowledge of the matter said this week.
Hurd is the former chief executive officer of Hewlett- Packard Co. (HPQ) During his tenure, the company retook leadership in the personal-computer market from Dell, boosted its stock-market value by more than half to $97.7 billion and expanded into new businesses including computer services and networking gear.
Fortune reported yesterday that Hurd is one of Blackstone’s top choices for CEO, in the event that Michael Dell doesn’t stay on in the position.
Hurd’s exit from Hewlett-Packard, after the board said he violated the company’s standards of business conduct, kicked off a three-year period of management upheaval and strategy shifts.
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