Dell in $24.4bn buyout deal

 
City A.M. Reporter
Dell founder Michael Dell and global technology investment firm Silver Lake are to take the computer maker private in a deal worth $24.4bn (£15.5bn).

Under the agreement, Dell stakeholders will receive $13.65 in cash for each Dell share, representing a 25 per cent premium over Dell’s closing price of $10.88 on 11 January.

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 $2bn 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 financial year 2014.