Even if there are offers, the board doesn't have to accept them, especially if it means they'll be out of a job. Then, Blackstone and Icahn would have to go directly to the shareholders with a tender offer. Not sure it will get done if it doesn't include Michael Dell.
Had Mr Dell put a more reasonable offer in the 15-16 range this would have been cased closed, but now he is put himself in risk of losing the company he started. The question now becomes how much is this company worth to him, because they way I see it him and his investment partner are going to have to pony a lot more money then the 15-16 dollar range if he wants to keep control of the company.
Why not ? Afterall, I am pretty sure they will try to woo SouthEastern, T Rowe etc...they can be wooed with a decent offer at 17-18. SouthEastern's average is close to $16.88
They may look to support any offer that is above $17...I think the shorts may have made a mistake with this one....i am increasing getting convinced that this will end up at ATLEAST $17
You have 2 bidders now apart from Silverlake.