It's Official Dell's Going Private in $24.4B Deal
Dell goes private in $24.4 billion leveraged buyout deal By Michael Dell and partners
Dell has indeed made the decision to go private, according to reports from The AP and other sources. The deal reportedly involves a leveraged buyout worth $24.4 billion by company founder Michael Dell and partners. Talks about Dell going private have been growing this year, with reports last week saying that Michael Dell was offering up to $1 billion of his own funds to take control of the company to help make it happen.
The deal will also include Microsoft, which is investing $2 billion in the deal, as well as private equity firm Silver Lake Partners, which will invest $1 billion, according to a source speaking to Reuters. Dell stockholders will get $13.65 in cash per share in the arrangement, Reuters reports, with Michael Dell remaining at the helm of the newly private entity. Microsoft has released an official statement on the Dell privatization deal, which reveals that it is essentially injecting the money into the business in order to help keep a key partner solvent and producing hardware to support its ecosystem.
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