Company News: Dell, Lufthansa, Amtrak, T-Mobile, CandymakersBy
Dell: Founder’s job is at risk
Blackstone Group and billionaire Carl Icahn want to take Dell private—but neither wants to keep founder Michael Dell on as CEO. Both proposals value the company higher than the $24.4 billion buyout offered by Silver Lake Management and Michael Dell, who started the company three decades ago, putting pressure on the executive to sweeten his terms or switch allegiances. He oversaw the company’s rise to the top of the PC industry, yet failed to prepare for new challenges from mobile technology and high-margin business services. While Blackstone doesn’t want Dell to be CEO, it has invited him to use his 15.6 percent ownership stake in the computer maker to join their buyout as a shareholder.
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