Computer Hope
Other => Computer News => Topic started by: Mulreay on February 05, 2013, 11:27:01 AM
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Michael Dell has said that he will buy back the world's number three PC manufacturer that he founded and that carries his name for $24.4bn (£15.5bn).
Mr Dell, together with technology private equity investor, Silver Lake, will offer $13.65 cash per share.
The firm said it offered a 25% premium over the Dell's valuation in January when rumours of the deal first broke.
The buy-out of the Nasdaq-listed firm will be financed by loans from four banks, and a $2bn loan from Microsoft.
Mr Dell, who is also chief executive and chairman of the firm, already owns about 14% of the company. He and fellow senior executives will retain their existing stakes.
Dell's success over the last 29 years has made its founder one of the richest men in America. By buying his company back, he will be taking it off the stock market almost 25 years after it was first listed.
Full story: http://www.bbc.co.uk/news/business-21342632
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The Title is mis-leading...everyone who has a Dell is probably trying to call them now to sell their PC's. ;D
He's wanting to take the Co. back to being private and not openly traded on the stock exchange...
Therefore he would have to buy out the shareholders....
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Right. The whole thing. :o
Transaction valued at approximately $24.4 billion
What dos he have in mind?
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Going back to being a Private Corporation...simple as that.