Dell panel will negotiate with 2 other bidders also
Michael Dell may have to increase the price he's willing to pay if he wants to take the computer company he founded private, because of competition from two new bidders.
A special committee of independent Dell Inc. directors said Monday that it will negotiate with buyout specialist Blackstone Group and activist investor Carl Icahn over bids that rival an offer of more than $24 billion from CEO Michael Dell and Silver Lake Partners.
The committee has determined that the bids could be superior to the proposal from Dell and Silver Lake, which amounts to $13.65 per share.
Bernanke defends policy of low interest rates
WASHINGTON - Chairman Ben Bernanke said Monday that the Federal Reserve's low-interest-rate policies are helping to boost growth around the world, rejecting criticism they could lead to a global currency war.
In a speech at the London School of Economics, Bernanke staunchly defended the Fed's policies and similar stimulus efforts pursued by other central banks since the 2008 financial crisis.
Last week the Fed stood by its policies to keep borrowing costs at record lows, saying the U.S. economy still required the support to help lower high unemployment.
T-Mobile eliminating 2-year phone contracts
NEW YORK - T-Mobile USA, the struggling No. 4 cellphone company, is ditching plans centered on familiar two-year contracts in favor of selling phones on installment plans.
T-Mobile is the first major U.S. carrier to break from the contract model. The company changed its website over the weekend to begin selling the new plans.
T-Mobile has been losing subscribers from its contract-based plans for more than two years, chiefly to bigger competitors Verizon Wireless and AT&T. T-Mobile has done better with contract-less, prepaid plans, but those aren't as profitable for the company.
The Associated Press