Investment fund Blackstone has sent a letter to Dell indicating it was finalizing a countoffer to buy it out, a source told AFP.
Billionaire Carl Icahn also notified the computer maker he was working on a firm bid, the Wall Street Journal reported on its website, citing people familiar with the matter.
In February, Dell unveiled plans to go private in a $24.4 billion deal. The private equity buyout led by founder Michael Dell, backed by equity investment firm Silver Lake, would give shareholders $13.65 per share. The company had set a Friday deadline for alternative offers.
According to the Wall Street Journal, the Blackstone letter does not detail a bid but "offers a range that is higher than the existing $13.65 per share offer but lower than $15 per share."
The newspaper, citing unnamed sources, also reported the letter said Blackstone envisions potentially selling Dell's financial-services business to help fund the deal. GE Capital is seen as a "likely buyer," it added.
Spokespeople for Dell and Blackstone declined comment. An Icahn spokesman could not be reached.
The Dell-led buyout plan would include a $2 billion loan from Microsoft.
The move would de-list the company from stock markets and could ease some pressure on Dell, which is cash-rich but has seen profits slump as it tries to reduce dependence on the shrinking market for personal computers.