Dell Reportedly Has The Votes To Close The $24.9B Michael Dell-Silver Lake Buyout Deal
The Dell deal is now all but done, according to Bloomberg who today reported that there are enough yes votes to ice the Michael Dell-Silver Lake proposal that will see the firm taken private for $24.9 billion.
This news comes on the heels of the withdrawal of the rival Icahn bid that would have seen a tender offer for the majority of Dell shares at a higher per-share price. However, that deal would have left Dell a public company, albeit one with an odd liquidity structure.
Michael Dell and Silver Lake are using a few billion Microsoft dollars — tapped from Redmond’s overseas cash hoard — to finance the shebang. Bloomberg notes that “[h]olders of two-thirds of the voting shares have indicated their support for the proposed transaction.” So, that’s that.
It has been a long, often comical road. First, Dell was said to be dramatically undervalued by its founder…
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