Join us in Wellington 4th December and Auckland 27th November
Want to help us test an ads-free Geekzone? Register for webpass now

Geekzone: technology news, blogs, forums
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
Dell confirms US$ 24.4 billion private acquisition
Posted on 6-Feb-2013 08:44. | Tags Filed under: News.

Dell Inc. has signed a definitive merger agreement under which Michael S. Dell, Dell’s Founder, Chairman and Chief Executive Officer, in partnership with global technology investment firm Silver Lake, will acquire Dell.

Under the terms of the agreement, Dell stockholders will receive US$13.65 in cash for each share of Dell common stock they hold, in a transaction valued at approximately US$24.4 billion. The price represents a premium of 25 percent over Dell’s closing share price of US$10.88 on Jan. 11, 2013, the last trading day before rumors of a possible going-private transaction were first published; and a premium of approximately 37 percent over the average closing share price during the previous 90 calendar days ending Jan. 11, 2013. The buyers will acquire for cash all of the outstanding shares of Dell not held by Mr. Dell and certain other members of management.

Microsoft has provided a US$2 billion loan to the group. The company issued a statement saying "Microsoft is committed to the long term success of the entire PC ecosystem and invests heavily in a variety of ways to build that ecosystem for the future. We're in an industry that is constantly evolving. As always, we will continue to look for opportunities to support partners who are committed to innovating and driving business for their devices and services built on the Microsoft platform.”

Michael Dell said: “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. Dell has made solid progress executing this strategy over the past four years, but we recognize that it will still take more time, investment and patience, and I believe our efforts will be better supported by partnering with Silver Lake in our shared vision. I am committed to this journey and I have put a substantial amount of my own capital at risk together with Silver Lake, a world-class investor with an outstanding reputation. We are committed to delivering an unmatched customer experience and excited to pursue the path ahead.”

comments powered by Disqus

Trending now »

Hot discussions in our forums right now:

Ford Eco Sport Titanium-Looking to buy
Created by psychrn, last reply by joker97 on 27-Nov-2015 19:04 (36 replies)
Pages... 2 3

Black Friday 2015 - Post Deals here
Created by Finch, last reply by dolsen on 27-Nov-2015 23:39 (64 replies)
Pages... 3 4 5

A 17 second violation of airspace? Is Turkey nuts?
Created by DaveB, last reply by xlinknz on 27-Nov-2015 16:32 (79 replies)
Pages... 4 5 6

Huawei and 2degrees Nexus 6P 64/128 GB offer for Geekzone users
Created by freitasm, last reply by droopanu on 27-Nov-2015 15:58 (679 replies)
Pages... 44 45 46

Clock teen to sue for $23m
Created by TimA, last reply by eracode on 27-Nov-2015 15:45 (35 replies)
Pages... 2 3

Noel Leemings - thanks for spoiling the surprise!
Created by scuwp, last reply by scuwp on 27-Nov-2015 19:19 (15 replies)

Has Trade Me had its day?
Created by Rikkitic, last reply by richms on 27-Nov-2015 13:29 (95 replies)
Pages... 5 6 7

Poor line speed and now getting worse
Created by IceFragmatic, last reply by richms on 27-Nov-2015 22:40 (13 replies)