Michael Dell closes in new $24.8 billion deal to take beleaguered Dell private

“Dell Inc and a group led by founder and Chief Executive Michael Dell reached a new deal on Friday that dramatically increases the chances of a $24.8 billion buyout going through,” Eileen O’Grady and Greg Roumeliotis report for Reuters.

“The new agreement includes a special dividend of 13 cents per share along with an offer increased by 10 cents per share to $13.75 per share, Dell’s special board committee, set up to ensure shareholders are getting the best deal, said in a statement,” O’Grady and Roumeliotis report. “A vote on the buyout, held under a the new standard, has been rescheduled for Sept. 12, while the record date, which determines which shareholders are entitled to vote, will be reset to Aug. 13 from June 3.”

O’Grady and Roumeliotis report, “The new deal and delay in the voting date boost the buyout consortium in several ways…”

Read more in the full article here.

MacDailyNews Take: Buh bye, beleaguered Dell. Squashed like bug by Steve Jobs.

Michael Dell

Related articles:
Michael Dell plans to stay at beleaguered Dell even if his buyout attempt fails – July 29, 2013
Michael Dell ups buyout offer for beleaguered Dell; shareholder vote pushed off to August 2 – July 24, 2013
Apple now worth 38 times Dell’s market value – October 3, 2012
Beleaguered Dell: Shut it down and give the money back to the shareholders – March 02, 2007
Biting words on Apple come back to haunt Dell – February 10, 2007
Steve Jobs emails Apple team: Michael Dell not the best prognosticator, Apple worth more than Dell – January 16, 2006
Apple now worth more than Dell – January 13, 2006

18 Comments

  1. Well going private Dell won’t have to suffer further stock bottoming humiliation and comeuppance as his company slides eventually into oblivion anyway. Has there ever been a more richly deserved fate and hard kick in the nuts than to someone like Michael Dell? Steve Ballmer being next in line.

  2. The original buyout offer was $13.65 per share. The new offer, including both increased share valuation plus special dividend, returns an additional 1.7% to shareholders. Dell investors would be wise to take the money, as greedy Icahn will only destroy what value is left after he raids the place.

  3. Who in their right mind is providing the cash for this privatization?

    Please let me know so I can make sure my investments do not include these idiots.

    It’s like pouring money down the drain. Dell will not be able to provide any meaningful return on the investment.

    1. It often appears so!

      MDN, the same click whores who admonish all analysts and journalists for biased commentary frequently offer the most uncivil, juvenile, fact-free commentary on the web.

      …and yes, this is coming from a dyed-in-the-wool Apple user. MDN would be wise to show the maturity that would make the Apple community proud, rather than embarrass us all frequently and repeatedly.

      1. If this site embarrasses you, then go somewhere else and STFU.

        I happen to like gloating over ol’ pig-eye Mike’s misfortunes, because he makes cheap shit for cheap-shit CFOs who can’t see past the initial cost so they buy cheap shit. Thus, Mike Dell personifies shit. So AFAIAC, he can go eat shit.

        And he’s ugly, too.

  4. That company is on the brink of extinction and with Microsoft putting out complete garbage OS, it shouldn’t take much longer..

    I was forced to use Windows 8 at work for a while, what a disaster, even my boss finally said enough and got rid of it..

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