Cloud Computing: Dell goes private as shareholders approve $24.9 billion deal
September 12, 2013
Grazed from InfoWorld. Author: Agam Shah and Chris Kanaracus.
Shareholders have voted to approve a $24.9 billion buyout of the company by founder and CEO Michael Dell and investment firm Silver Lake Partners. They will be paid $13.75 per share, an increase from the original offer, as well as an additional cash dividend of $0.13 per share, for a total of $13.88 per share, according to Thursday’s announcement.
The transaction was approved by those holding a majority of Dell’s outstanding shares, the company said. An exact tally wasn’t immediately available. For Michael Dell, the vote marks a victory in a long and grueling fight to take the company private. "I am pleased with this outcome and am energized to continue building Dell into the industry’s leading provider of scalable, end-to-end technology solutions," he said in a statement…
Dell on Feb. 5 announced that Michael Dell and investment firm Silver Lake had offered $24.4 billion, or $13.65 per share, to buy out the company. The offer, subject to shareholder approval, included a $2 billion loan from Microsoft, and debt financing from Bank of America, RBC Capital Markets, Merrill Lynch and Barclays…
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