Michael Dell negotiating buyout at $13-$14 per share - sources
NEW YORK (Reuters) - Michael Dell, the chief executive and founder of the world's No. 3 PC maker, is negotiating taking Dell Inc private together with his partners at $13 to $14 per share, two people familiar with the matter said on Friday.
A deal could come as early as Monday, people familiar with the matter told Reuters earlier on Friday, cautioning that talks were ongoing and that the timetable could slip.
Michael Dell is expected to take majority ownership of the Round Rock, Texas-based company, while private equity firm Silver Lake and giant software company Microsoft Corp (MSFT.O) would become minority investors, the people said.
Dell did not immediately respond to a request for comment, while Silver Lake and Microsoft declined to comment.
The deal would mark the largest leveraged buyout since the global financial crisis. Going private would allow Dell, which has been trying to become a one-stop shop for corporate technology needs as the PC market shrinks, to carry out a challenging makeover away from public scrutiny. (Reporting by Greg Roumeliotis in New York; Additional reporting by Poornima Gupta in San Francisco and Bill Rigby in Seattle; Editing by Gerald E. McCormick)
- Tweet this
- Share this
- Digg this
- Boxer Sarita Devi faces action after refusing medal at Asian Games
- UPDATE 8-Dallas Ebola patient vomited outside apartment on way to hospital
- Appointment of Arvind Subramanian as chief economic adviser hits Modi hurdle
- Boxer Sarita Devi showed lack of sportsmanship, say organisers
- China tells foreign countries not to meddle in Hong Kong
BACK IN JAIL
Subrata Roy, the jailed chief of India's Sahara conglomerate, is back in a cell after living in a makeshift prison office for two months as he tried to negotiate the sale of his luxury hotels, a jail official said. Full Article
Appointment of Arvind Subramanian as chief economic adviser hits Modi hurdle. Full Article
Diageo bars United Breweries from appointing independent director at United Spirits. Full Article