Dell strikes $24.4 bln deal to go private

Last Updated: Wed, Feb 06, 2013 06:20 hrs

American PC manufacturer Dell has announced that it will take itself private in a 24.4 billion dollars deal.

The firm's founder Michael Dell is buying the rest of Dell with US private equity firm Silver Lake and Microsoft.

Dell investors will receive 13.65 dollars a share for the world's third largest computer maker, which was set up almost 30 years ago.

According to the Telegraph, the deal will see Dell, who already owned almost 16pc of Dell, regain majority ownership of a company that, together with rival Hewlett-Packard, dominated the PC market for more than a decade.

Microsoft, the biggest maker of software for PCs, will contribute two billion dollars to the purchase, the paper said.

The acquisition also relies on billions of dollars of debt from banks and is the biggest buyout of a company since the financial crisis, it added. (ANI)

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