Dell Board Pushes Michael Dell, Silver Lake Bid

By Doug Olenick On May 31 2013 - 11:15am




Round Rock, Texas — Dell’s board today recommended that the company accept the $24.4 billion buyout bid led by Dell founder, chairman and CEO Michael Dell and the investment firm Silver Lake.

Dell and Silver Lake will pay $24.4 billion, or about $13.65 per share, and take the company private.

The bid won out over several others, including one by Carl Icahn. The Blackstone Group also put in and removed a bid on the company.

Dell’s board noted several reasons it approved the Dell/Silver Lake offer, including that it represents an all-cash offer at a significant and certain premium; is based on a comprehensive range of alternatives evaluated; includes shareholder-friendly processes and terms to ensure value is maximized; and shifts considerable business performance and transaction risks to the buyer group.

“We believe this transaction strengthens Dell’s capabilities to bring industry-leading, differentiated, simplified and easy-to-manage solutions to customers worldwide,” the board said in an open letter to shareholders.

Alert to All Users of the Disqus commenting system:

Because of a recent global security issue, the Disqus website recommends that all users change their Disqus passwords. Heres a URL about the issue:

http://engineering.disqus.com/2014/04/10/heartbleed.html

 

 

 

 

Connect

 

PHOTOS

Enjoy the greatest pictures taken from famous shows and events this year.

Current Issue

Webcast

This TWICE webinar,  hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.