Beleaguered Dell officially gives the money back to the shareholders

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!

Michael Dell

[Thanks to MacDailyNews Readers “Fred Mertz” and “Jim S.” for the heads up.]

Related articles:
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

47 Comments

    1. Steve had the last laugh years ago when AAPL eclipsed every corporation on earth.

      Steve never met Mac Pro 2013 either, but I’m certain he’d hate it, then love it, then hate it again.

      My sense is, Steve was tired of Dell too. Bored with their ascension and disgusted by its decline—one can only look upon a train wreck for so long, before your eyes alight on some horrific detail—and the many families Mikey Dell destroyed before his company was wrested away from him.

      Sound familiar?

      Dells’ rise to stardom can be attributed purely to Plug & Play; Mikey Dell color coded his cables and ports for an ignorant computer market of Windows consumers.

      But then a clusterfuck ensued when Dell was caught in a Catch-22 over 64-bit computing.

      Microsoft couldn’t develop a 64-bit software system until the hardware guys made a 64-bit processor and Intel and AMD needed an operating system so they all sat on their hands. Meanwhile Linux is gaining ground in enterprise; proving to be more robust than Windows ever was.

      Meanwhile Macintosh slips past them all and hasn’t looked back. We’ve enjoyed the power & productivity of 64-bit computing for years.

      I can hear Steve now, ‘Look can we talk about something else?’, when bad news about Dell or Microsoft surfaced; No Joy!

    1. I sure hope you mean “buh bye”, not “buh buy”.

      I’m not normally a spelling/grammar Nazi, but this one is a big deal.

      Almost as bad as the diff between these two:

      “John helped his uncle, Jack, off his horse.”
      “John helped his uncle jack off his horse.”

  1. One more down, so many more technological blockages to be removed. Yes, it could not have happened to a more appropriate company. Give the investors back their money Michael Dell. It is about time.

  2. If Dell actually comes out with a compelling product now (I know, I laughed too when I wrote it) then we’ll kind of wonder if they were sandbagging for a few years to bring down the purchase price.

    That could be the only plausible explanation for the rudderless leadership and craptastic hardware produced by Dell (well, it would explain the past few years anyway).

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