There has been a lot of speculation about Dell’s future, ever since the company’s founder Michael Dell put forward a proposal to take the company private. It hasn’t been easy for Michael Dell, who saw his multi-billion offer being countered by well known investor Carl Icahn. Icahn finally backed out and judging by the preliminary vote tally from the special meeting of shareholders that took place today, the buyout proposal has been approved. Michael Dell will acquire the company in partnership with Silver Lake Partners, a global technology investment firm.
Dell shareholders will receive $13.75 in cash for each share of Dell common stock that they own. A special cash dividend of $0.13 per share will also be paid alongwith the regular quarterly dividend of $0.08 per share for the fiscal third quarter. The total transaction has been valued at approximately $24.9 billion. Chairman and CEO of Dell, Michael Dell, said that he is pleased with this outcome and is “energized to continue building Dell into the industry’s leading provider of scalable, end-to-end technology solutions.” The final vote hasn’t been released as yet, but according to various reports, 65 percent of the votes have casted in favour of the buyout. Dell itself has already sent out a press release regarding the result.RELATED