Dell to go private for USD 24 billion
New York, Feb 5 : American computer maker Dell on Tuesday said a group of investors including founder Michael Dell, investment firm Silver Lake and software giant Microsoft, will acquire all its shares to help it go private by 2014.
Founder, Chairman and Chief Executive Officer Michael Dell and Silver Lake will pay USD 13.65 per share in cash for the company, while Microsoft will provide a USD 2 billion loan and four banks will provide debt financing.
The transaction, that will buyout the world's No. 3 computer maker at around 25 percent its current market value, is expected to close before the end of the second quarter of Dell's fiscal 2014.
"I believe this transaction will open an exciting new chapter for Dell, our customers and team members. We can deliver immediate value to stockholders, while we continue the execution of our long-term strategy and focus on delivering best-in-class solutions to our customers as a private enterprise," Michael Dell said.