“It’s official: Dell is going private,” Klint Finley reports for Wired. “Today, the company announced that stockholders have approved a buyout by eponymous founder, chairman, and CEO Michael Dell and private equity firm Silver Lake Partners.”
“Stockholders will be paid $13.88 in cash per share, plus a $.08 per share dividend for the third fiscal quarter, bringing the total buyout price to $24.9 billion,” Finley reports. “Dell’s transition from public to private company hasn’t been smooth. Michael Dell owned 15.7 percent of the company himself, but had to convince the rest of the shareholders to agree to a buyout. Activist shareholder Carl Icahn fought the process. But as Dell’s profits tanked by 79 percent, a buyout deal had to look attractive to stockholders.”
Read more in the full article here.
MacDailyNews Take: Dell just gave the money back to the shareholders.
Karma sure is sweet!
10:01 EDT: Added Mikey photo as per comments below.
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