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It's official: Dell is being taken private for $24.4 billion, or $13.65 a share in cash, a transaction that will allow the company to turn itself around away from shareholder scrutiny.
Michael Dell, who owns about 14 percent of Dell's common shares, teamed up with Silver Lake Partners to acquire the company. Microsoft also kicked in a $2 billion loan.
Following completion of the transaction, Michael Dell will continue to lead the company as CEO. He also will maintain a significant equity investment in the company by contributing his shares of Dell to the new company, as well as by making a "substantial" additional cash investment.
Dell Confirms a $24.4 Billion Deal To Go Private [news.cnet.com]