Dell is considering separate takeover proposals from Blackstone Group and billionaire investor Carl Icahn, while already having a US$24.4 billion take-private deal in the bank.

With three offers now on the table for founder Michael Dell, the focus will no doubt shift to value - with the board expected to make an announcement shortly regarding the proposals.

After accepting an original bid from technology investment firm Silver Lake, Dell faced criticism from some of the company's shareholders - disgruntled at the $13.95-a-share bid to take the business private.

At the time of the offer, Dell basically told the investors it was the best the company could muster, saying:

“In the course of its deliberations, the Special Committee of Dell’s Board considered an array of strategic alternatives.

“In addition to working through financial and capital-allocation issues with its independent financial advisors, the Committee retained a prominent management consultant to help it assess the Company’s strategic position.

“Based on that work, the Board concluded that the proposed all-cash transaction is in the best interests of stockholders."

Yet during this current "go-shop" period, when a company can actively look for offers, the two new offers place Dell in an uncertain position.

Sections of the American press claim that both Blackstone's and Icahn's proposals could see a portion of Dell's stock remaining publicly traded, which varies from the intentions of Silver Lake.

Interestingly, the two offers could potentially threaten the position of Michael Dell within the company, who would remain CEO under the Silver Lake deal.

Silver Lake were quick to show it's defiance in the matter, saying at present it has no plans to increase or amend its offer until Dell make a decision regarding the other two proposals.

Technically speaking this would mean the buyout offer and Dell's position as CEO would remain.

But should Dell decide that either bid is superior to that of Silver Lake, either Icahn or Blackstone would be required to present firm bids for the company to consider

At present the ball is in Dell's court, question is, how will it play it?

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