Dell going private? Stock soars on back of rumours
Texas-based PC manufacturer Dell is set to remove itself from public trade and go private with the assistance of private equity firms, according to sources in the know.
Bloomberg reports that the change is being sought after the company lost a third of its value over the past year. Dell, of course, was one of the original leaders in putting the PC in households worldwide.
Two private-equity firms are said to be at the center of talks with Dell to buy out the company. Preliminary talks are underway to set-up financing and investing options, according to the publication.
Dell’s stock price on the US stock market has increased drastically since the news broke. The company’s stock price shot up more than 12 per cent from $10.92 a share up-to $12.50 a share and continues to climb this afternoon.
Founded by CEO Michael Dell in 1984, Dell has been a publicly traded company since 1988. Dell originally considered taking the company private in 2010, and may now be moving to finalise the deal this year if agreements are reached.