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Michael Dell to take company he founded private

Written by Andre Yoskowitz @ 12 Sep 2013 9:36 User comments (1)

Michael Dell to take company he founded private After a year of fighting, Dell founder Michael Dell has succeeded in taking the company private through a leveraged buyout.
Shareholders voted in favor of the buyout, which will come from Dell and private equity firm Silver Lake.

The final price is $13.75 per share and will also include a 13 cent special dividend. With current outstanding shares, the total buyout price is $24.9 billion for shareholders.

When the process began in June of last year, the price was lower, but there has been significant investor opposition, including Carl Icahn who became the company's second largest investor in order to propose a 'structured recapitalization' which would have had Icahn and another firm buy 72 percent of Dell shares and leave the remaining to trade publicly.



The argument was that the Silverlake/Dell deal locked out investors from any future turnaround the company may have.

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1 user comment

113.9.2013 10:38

Good for him. Publicly traded companies nowadays have too many cooks in the kitchen. Maybe he can improve Dell for the better, without a whole bunch of other xxO's telling him how to run his company.


SuckRaven

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