Dell is advancing towards a $24.4 billion dollar megadeal, as Michael Dell plans to take back a majority of control over the company. The struggling computer giant, which is rich in cash, is being taken private as it gathers up its act to set into the post PC era.
Reliable sources say that Michael Dell who was in talks with Microsoft Corp along with private-equity firm Silver Lake, had partnered to offer the various shareholders revenue ranging from $13.50 and %13.75 per share, which adds up to be around 25 percent premium to Dell’s stock price that was calculated in January.
It is believed that the buyout, if finalized and approved by the shareholders, would turn out to be the largest deal of its kind since the breakout of the financial crisis.
Dell has not been available to comment on the reports circulating in the past few weeks that talked about the computer manufacturing giant, which had recently come down from its number one position was in the midst of a big shift from computing to mobile devices along with preparing to go private.
The Texas based company, which was the brainchild of Michael Dell originating in his college dorm room, was once the world’s largest PC manufacturer with a market worth of $100 billion.
The current scenario will surely remove the company from the listings of the stock market but at the same time is expected to relief the company from some of its mounting profit pressures.