Equity firm Blackstone Group has reportedly submitted a counter-bid to buyout Dell, undermining the current favoured offer by founder Michael Dell.

The reported deal citied by the New York Times to unnamed sources, reported that Blackstone made the bid during last Friday, in a proposal which would see the equity group offer above the offer of $13.65 per share by Michael Dell and Silver Lake Partners.

The new competition is likely to result in Dell’s move to becoming a private organisation dragged out over many months by multiple meetings and debates involving Dell’s core shareholders, surrounding the competing offers.

Other counter-offers are expected to appear on the horizon, with dissent from shareholders surrounding the value of the business.

$24 billion acquisition of Dell confirmed