Barracuda Networks Inc., a provider of Internet security and data-protection systems, hired Morgan Stanley to lead an initial public offering that would seek to raise $100 million to $150 million, three people with knowledge of the matter said.
Dell Inc. received proposals from Blackstone Group LP and billionaire Carl Icahn that would rival the $24.4 billion leveraged buyout offer from founder Michael Dell and allow shareholders to keep a stake in the company, according to people with knowledge of the matter.
Blackstone Group LP and activist investor Carl Icahn submitted proposals to buy Dell Inc. that would rival a $24.4 billion buyout offer from Silver Lake Management LLC and company founder Michael Dell, according to people with knowledge of the matter.
After days of discussions, Blackstone Group LP and Dell Inc.’s Michael Dell have yet to tackle a critical issue, according to a person with knowledge of the matter: what role he would play if the private-equity firm wins the bidding for the computer maker.
Blackstone Group LP, the world’s largest private-equity firm, ended talks to buy Brocade Communications Systems Inc. because the price was too high for a leveraged buyout, said a person with knowledge of the situation.
Blackstone Group LP and billionaire Carl Icahn are offering to buy Dell Inc. without retaining Michael Dell as chief executive officer, spurring debate over whether the personal-computer maker would be better off without the entrepreneur who founded it three decades ago.
Blackstone Group LP decided against a bid for Dell Inc. in part because executive Dave Johnson, the computer maker’s former mergers chief, pulled support for the deal he helped conceive, said people familiar with the matter.
Dell Inc. said it got proposals from Blackstone Group LP and Carl Icahn that may be superior to Michael Dell’s $24.4 billion buyout plan, putting pressure on the founder to sweeten his terms or switch allegiances.