Beware the mouse, or in this case publicity-shy asset manager, that roars.

Southeastern Asset Management [profile] 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.
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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. 

Edited by: Tommy Fernandez


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