Dell is now officially a private company

31 Oct 2013

Computer-maker Dell’s founder, chairman and CEO Michael Dell and technology investment firm Silver Lake Partners have completed their US$24.9bn leveraged buyout of the company, which is now private.

Dell stockholders will receive US$13.75 in cash for each common share and a special dividend of US$0.13 per share for a total of US$13.88.

Dell’s stockholders approved the transaction on 12 September and the buyout was completed on Tuesday.

The company has now begun the process of delisting its common shares from the NASDAQ stock market.

Michael Dell said Dell is now entering “an exciting new chapter” as a private enterprise.

“Our 110,000 team members worldwide are 100pc focused on our customers and aggressively executing our long-term strategy for their benefit,” he said.

Tina Costanza was a journalist and sub-editor at Silicon Republic