Beware the mouse, or in this case publicity-shy asset manager, that roars.
Southeastern Asset Management
] has joined the battle over buying out Dell
by spurring two counter-offers to the takeover bid previously made by company founder Michael Dell
, according to the Wall Street Journal
The newspaper reports that the bids which emerged over the weekend were from activist investor Carl Icahn
and private-equity shop Blackstone Group
Icahn's offered would buy shares for $15 each, representing a 9.9 percent premium over the $13.65-per-share bid offered by Dell and his partner in the deal, the private-equity shop Silver Lake Partners
. Meanwhile, the group led by Blackstone offered at least $14.25 per share.
It's an unusual move for an asset manager. Mutual funds tend to stay out of the nitty-gritty of corporate buyout battles.
Nonetheless, it is not entirely unheard of. Bruce Berkowitz's Fairholme fought and won
a battle to gain control of the board of St. Joe Company.
Read more about Southeastern's battle in the Wall Street Journal
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