Ad
Ad
Ad
Ad
Ad
Ad
© vladek-dreamstime.com Business | February 06, 2013

Dell will go private

Founder Michael Dell, private equity firm Silver Lake along with Microsoft Corp will pay USD 24.4 billion for the computer maker.
Michael Dell and Silver Lake are paying USD 13.65 per share for the company.

The purchase is being financed by cash and equity from Michael Dell, cash from Silver Lake, Michael Dell's investment firm MSD Capital is also involved, as well as a USD 2 billion loan from Michrosoft and financing from banks.

Mr. Dell said: “I believe this transaction will open an exciting new chapter for Dell, our customers and team members. We can deliver immediate value to stockholders, while we continue the execution of our long-term strategy and focus on delivering best-in-class solutions to our customers as a private enterprise. Dell has made solid progress executing this strategy over the past four years, but we recognize that it will still take more time, investment and patience, and I believe our efforts will be better supported by partnering with Silver Lake in our shared vision. I am committed to this journey and I have put a substantial amount of my own capital at risk together with Silver Lake, a world-class investor with an outstanding reputation. We are committed to delivering an unmatched customer experience and excited to pursue the path ahead.”

Following completion of the transaction, Mr. Dell, who owns approximately 14 percent of Dell’s common shares, will continue to lead the company as Chairman and Chief Executive Officer and will maintain a significant equity investment in Dell by contributing his shares of Dell to the new company, as well as making a substantial additional cash investment. Dell will continue to be headquartered in Round Rock, Texas.

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Load more news
December 13 2017 10:15 PM V8.9.2-1