Beleaguered Dell today announced the completion of its acquisition by Michael Dell, Dell’s Founder, Chairman and CEO, and Silver Lake Partners, a technology investment firm.
Under the terms of the merger agreement, shareholders of beleaguered Dell will receive $13.75 in cash for each share of beleaguered Dell common stock they hold, plus payment of a special cash dividend of $0.13 per share to stockholders of record as of the close of business on Oct. 28, 2013, for total consideration of $13.88 per share in cash. The total transaction is valued at approximately $24.9 billion.
The transaction was approved by beleaguered Dell’s stockholders at a special meeting of stockholders held on Sept. 12, 2013. Trading in beleaguered Dell’s common stock will conclude at the end of business today, and the company has commenced the process to delist its common shares from the NASDAQ Stock Market.
“Today, Dell enters an exciting new chapter as a private enterprise,” said Mikey Dell. “Our 110,000 team members worldwide are 100 percent focused on our customers and aggressively executing our long-term strategy for their benefit.”
Source: Dell Inc.
MacDailyNews Take: One last time:
Shut it down and give the money back to the shareholders!
[Thanks to MacDailyNews Readers “Fred Mertz” and “Jim S.” for the heads up.]
Dell gives the money back to the shareholders, goes private in $25 billion deal – September 12, 2013
Michael Dell bristles when his beleaguered PC company is compared with mighty Apple Inc. – February 4, 2013
Dell Dude? Yup, he’s a Mac user now, too – January 30, 2013
Apple now worth 38 times Dell’s market value – October 3, 2012
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