“Dell Inc is edging closer to an agreement to sell itself to a buyout consortium led by Michael Dell, its founder and chief executive, and private equity firm Silver Lake Partners in a deal that could top $24 billion, people familiar with the matter said on Friday,” Nadia Damouni, Soyoung Kim and Greg Roumeliotis report for Reuters. “The buyout consortium is negotiating taking Dell private at $13 to $14 per share, two of the people said. This translates into an equity valuation for the Round Rock, Texas-based company of between $22.6 billion and $24.4 billion.”
Damouni, Kim and Roumeliotis report, “The transaction is set to be finalized over the weekend and the timetable could still slip, the people cautioned, asking not to be named because the matter is not public… As part of the transaction, Michael Dell will contribute his existing stake of almost 16 percent in the company toward gaining majority ownership, sources close to the matter have said. The deal would mark the largest leveraged buyout since the global financial crisis. Going private would allow Dell, which has been trying to become a one-stop shop for corporate technology needs as the PC market shrinks, to conduct that difficult makeover away from public scrutiny.”
Read more in the full article here.
MacDailyNews Take: Ah, there’s nothing like bathing in a pool of schadenfreude before tapping the TGIF keg!
[Thanks to MacDailyNews Reader “Ed B. for the heads up.]
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