It's official: Dell goes private, completes transaction
Dell just announced that it has completed its go-private transaction, and is now a private company.
Michael Dell, Dell's founder, chairman and CEO, and Silver Lake Partners, a leading global technology investment firm, have officially acquired Dell. Dell stockholders will receive $13.75 in cash for each share of Dell common stock they hold plus a special cash dividend on 28 October, valuing the total transaction at approximately $24.9 billion.
"Today, Dell enters an exciting new chapter as a private enterprise," said Michael Dell in a release. "Our 110,000 team members worldwide are 100 percent focused on our customers and aggressively executing our long-term strategy for their benefit."
This month Dell revealed it had completed all of its pre-merger regulatory clearances. The clearances were for the consummation of the merger transaction, which would enable Dell to become a private entity by the company's fiscal Q3 2014.
Michael Dell owns 75 per cent of the entity, giving him complete control. He has said the deal will allow Dell to innovate in the PC, tablet and enterprise markets.
The CEO has also said he wants to reinvest in Dell, work more closely with enterprise customers and remain competitive with pricing. All of this indicates there could indeed be plenty of exciting things down the road in terms of consumer products from Dell.