Authorities say an explosion at a fertilizer plant near Waco, …
Three women AIDS activists saying they wanted to highlight the …
A soldier from Missouri died in Texas after gunfire blamed on a…
Advertisement
Dell in $24.4 billion founder-led deal to go private
Largest deal of its kind since recession
Updated: Tuesday, 05 Feb 2013, 7:49 AM MST
Published : Tuesday, 05 Feb 2013, 7:49 AM MST
ROUND ROCK, Texas (AP) — Slumping personal computer maker Dell is selling itself for $24.4 billion to its founder and a group of investors that includes Microsoft.
It's the largest deal of its kind since the Great Recession dried up financing for risky maneuvers like this.
The complex agreement announced Tuesday will end Dell Inc.'s nearly 25-year history as a publicly traded company. Shareholders are receiving $13.65 per share for their stock.
The deal reflects Dell's desire to engineer a turnaround attempt away from the glare and financial pressures of Wall Street.
Founder Michael Dell will remain the company's CEO and largest shareholder. He already owned a nearly 16 percent stake in the company, which is based in Round Rock, Texas.
Microsoft Corp. is taking part in the deal with a $2 billion loan.
 | With KASA.com's commenting system, you don't need to register. You can login with an existing Facebook, Yahoo!, Google, or Twitter account and more. |
Enter the Hole-in-One Golf Contest
Just pick the golfers you think will finish 1st through 10th for each of the …
Enter the Auto Race Challenge Contest
Pick the 10 drivers you think will finish 1st through 10th for each race and …
Police say Tyrone Stephens used a vacuum to assault his caregiver Saturday, by …
It's all about atmosphere, so light up that backyard gathering the …
Brewers team up on beer to help…
RICHMOND, Va. (AP) — Craft breweries from around the country are teaming up to raise money for military …
It's all about atmosphere, so light up that backyard gathering the …
Email This
Print This
View Story on a Single PageAdvertisement
Advertisement