The Briefing Room
General Category => Economy/Business => Topic started by: Cincinnatus on February 02, 2013, 03:56:30 am
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Dell Inc is edging closer to an agreement to sell itself to a buyout consortium led by Michael Dell, its founder and chief executive, and private equity firm Silver Lake Partners in a deal that could top $24 billion, people familiar with the matter said on Friday.
The buyout consortium is negotiating taking Dell private at $13 to $14 per share, two of the people said. This translates into an equity valuation for the Round Rock, Texas-based company of between $22.6 billion and $24.4 billion.
Dell shares were up 2.5 percent at $13.57 in afternoon trading.
http://www.reuters.com/article/2013/02/01/us-dell-buyout-idUSBRE91009K20130201
$24 billion. Nice piece of change.
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My uncle resigned from their Board of Directors when Clinton nominated him to be SoD...he had helped steer both Dell and Oracle through their start-ups and then served on their boards.
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Dell Inc is edging closer to an agreement to sell itself to a buyout consortium led by Michael Dell, its founder and chief executive, and private equity firm Silver Lake Partners in a deal that could top $24 billion, people familiar with the matter said on Friday.
The buyout consortium is negotiating taking Dell private at $13 to $14 per share, two of the people said. This translates into an equity valuation for the Round Rock, Texas-based company of between $22.6 billion and $24.4 billion.
Dell shares were up 2.5 percent at $13.57 in afternoon trading.
http://www.reuters.com/article/2013/02/01/us-dell-buyout-idUSBRE91009K20130201
$24 billion. Nice piece of change.
I wonder what the buy-out group's exit strategy is. Frequently, taking a business like Dell private is a way to do the sorts of paring, tweaking, and revamping needed to revitalize a company that are difficult if not impossible to accomplish with a publicly-owned company. The theory being that after the "tough love" the resulting business will be much more valuable than when it was purchased, allowing the buy-out group to realize a good ROI.
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Hope they don't start trimming jobs, daughter in law works for them.