FORTUNE — Last month I was critical of Michael Dell for not explaining his plans for a privately-held Dell Inc. (DELL), were he and Silver Lake to successfully purchase the company. We got a bit more insight from last Friday’s proxy statement, but today the CEO sent a memo to all company employees that was more specific.
Here is the part of the memo describing growth plans (verbatim):
What we still don’t know is how The Blackstone Group (BX) views such strategic plans, although I’m sure Michael Dell asked during their recent series of sit-downs. There have been rumors that Blackstone is keen on divestitures — such selling as Dell Financial Services to General Electric (GE) — but no such specifics have been disclosed.
If the two sides are in sync, then it’s possible that Michael Dell could leave Silver Lake at the altar (or just remain agnostic, awaiting the highest share price). That’s assuming, however, that there also is agreement on governance issues (perhaps a thornier subject, given Blackstone’s stated desire for a public equity stub).
Anyway, consider this just another brick in the M&A world’s most compelling wall.
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