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. Yeah…guess you didn’t know his political affiliation.

      “In 2004, Susan and Michael Dell were among 53 contributors of $250,000 each (the maximum legal donation) to the second inauguration of President George W. Bush.”

      Sorry, you were saying something rather foolish?

  1. “Our 110,000 team members worldwide are 100 percent focused on our customers and aggressively executing our long-term strategy for their benefit.”

    Er, OK. So what were they focused on before?

    1. Yeah, I loved that example of managobabble. My last boss hit us with a beauty when I queried the company’s latest crazy scheme (abandoned soon after). “At this stage, we’re just positioning ourselves in the possibility space.”

      Translation: “We haven’t got bloody clue whether the idea will work or not, so we’ll pad it out with words”. I think she must have attended the same Waffle 101 class as Mikey.

    2. Presumably, on maximising share value for shareholders. With normal companies, the goals are the same, but for many other, they just slightly overlap. Sometimes companies must do things that aren’t a good long-term idea in order to generate a bump in share value (for example, share buyback… instead of investing into innovation).

  2. The good news is, although I doubt they will capitalize on it, this is a great opportunity for Dell to show the other windows hardware makers how to make products. Especially with pressure of shareholders off their back.

    But again, I doubt this will happen.

  3. Dell: 108,800 employees, 56,940 revenue = $520K/emp
    MSFT: 99,000 employee, 77,849 revenue = $786K/emp
    Apple: 72,800 employees, 156,508 revenue = $2.15M/emp
    Google: 53,861 employees, 50,175 revenue = $932K/emp

      1. your numbers are not important to long term viability, just as the numbers that Michael Dell used when he said apple should sell the company and give the money back to the shareholders were not as well. Innovation is king, wall st can go swim with the fishes.

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