Computer giant Dell may reveal today whether its board has accepted an offer led by its founder and CEO Michael Dell to take the company private for about US$24bn. Dell’s board reportedly met last night to vote on the offer, several reports say.
Michael Dell has the support of a consortium of investors that includes venture capital firm Silver Lake Partners and software giant Microsoft.
Silver Lake Management will invest more than US$1bn in the buyout and Microsoft will invest about US$2bn, Bloomberg News reported.
Dell himself, who is also chairman of the board, will reportedly contribute his 15.7pc stake, valued at more than US$3.6bn, as well as US$700m, Bloomberg News reported.
Delisting and going private would provide Dell with greater control over its future direction in a world of software and hardware that has changed a lot since Michael Dell founded the company in 1984.
Dell has not commented on reports about it preparing to go private.