Wednesday, Sep 3, 2014Wednesday, Sep 3, 2014
News
 

World's No. 3 PC maker Dell to go private in $30.2 billion deal

Published on Feb 5, 2013 11:06 PM
 
Dell Inc founder and chief executive Michael Dell smiles during a business conference organised in New Delhi in this March 22, 2011, file photo. Computer maker Dell will go private in a US$24.4 billion (S$30.2 billion) deal that also involves Microsoft and private equity firm Silver Lake, the parties said on Tuesday.  -- PHOTO: REUTERS

NEW YORK (REUTERS) - Computer maker Dell will go private in a US$24.4 billion (S$30.2 billion) deal that also involves Microsoft and private equity firm Silver Lake, the parties said on Tuesday.

Company founder Michael Dell and Silver Lake are paying US$13.65 per share in cash for the world's No. 3 computer maker.

The deal is being financed by cash and equity from Michael Dell, cash from Silver Lake, cash from Michael Dell's investment firm MSD Capital, a US$2 billion loan from Microsoft and debt financing from four banks.

The transaction is expected to close before the end of the second quarter of Dell's fiscal 2014.

 
If you are not a subscriber, you can get instant, unlimited access here