Dell is now officially a private company

31 Oct 2013136 Views

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.

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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 has held senior editorial positions at daily newspapers in Ottawa and Toronto