Cash bid is for entire company, valuing Dell at $13.65 per share.
Silver Lake committed up to $1.4 billion in equity financing.
Michael Dell will roll over 273 million shares of Dell stock, invest up to an additional $500 million in cash.
An affiliate of Michael Dell investment vehicle MSD Capital will contribute up to an additional $250 million.
Deal will target the repatriation of $7.4 billion cash from abroad.
Deal would also be financed by a $2 billion loan from Microsoft Corp and between $11 billion and $12 billion in debt financing from Bank of America Merrill Lynch, Barclays, Credit Suisse and RBC Capital Markets.
Blackstone proposal
Leveraged recapitalization transaction that values Dell shares at more than $14.25 per share.
Shareholders could choose to receive either all cash or stock (subject to a cap).
Blackstone anticipates inviting large Dell shareholders to participate in transaction by rolling over their shares.
Dell shares would continue to trade on Nasdaq.
Received a "highly confident" letter from Morgan Stanley on Blackstone group's ability to raise debt financing for transaction.
Icahn proposal
Cash bid for up to 58.1 percent of Dell, valuing the company's shares at $15 each.
Shareholders could elect to keep their Dell stock instead of the cash bid.
Deal will be funded by $2 billion from Icahn Enterprises, Carl Icahn and affiliates; $7.4 billion of cash currently available at Dell; $5.2 billion in new debt; and $1.7 billion in new factoring receivable facility.
Proposal assumes that large shareholders Southeastern Asset Management and T. Rowe Price would agree to remain shareholders in Dell. Icahn and affiliates would be willing to provide $2 billion in additional equity capital if the shareholders do not agree to roll over their holdings.
Should there be leftover funding after investors choose to receive cash or remain shareholders in the company, the balance of the funding will be distributed to remaining Dell shareholders as a special dividend.
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