As per information stated by a person related to the organization, the organization of Blackstone Group LP, which is suggested to have indulged in a bid with Dell Inc. for approaching the organization of Oracle Corp. regarding the operation of computer makers.
The firm of private equity is yet to make any formal offer to Hurd, as stated by the source, who wanted not to be identified as the venture is yet to be disclosed publicly. It is stated that Blackstone is considering if it should make a rival with Dell by bringing up a proposal that is estimated to have $24.4 billion buyout through its founder, Michael Dell along with its associate of Silver Lake Management LLC.
It is known that Hurd is the former executive of the company of HP (Hewlett-Packard Co.). at the time of his tenure, the company enjoyed a leadership in the production of personal computer making, which is now the largest market for Dell. It is seen that the market value of Dell got enhanced and boosted by more than half of its total net amount of $97.7 billion that was also expanded into arenas of new business and trade, including that of networking as well as computer operational services.
The spokesman from the Redwood City, Deborah Hllinger, which is based out at the California based Oracle, however refused to say anything about the proposal and its whereabouts. Similarly the spokesman and representative of Dell which is based at Texas, David Frink, also however did not reply or say anything to requests.
It was reported by Hurd at a conference yesterday that one of the most prominent choices of Blackstone for the position of CEO is that Michael Dell do not stay in the designated position. There is demand among many that Dell should step down from the post of CEO and make space for the new executive nominations.
The exit of Hurd from the organization of Hewlett-Packard is however related to that of his violation of the rules and regulation of the company’s standards in accordance to the conduct of the business, which kicked off within the time period of three years of management turmoil along with strategic moves.