Feeds

Dell goes private: Stock ceases trading, now Big Mike's baby once again

Deal cost Texan tech titan and pals $24.9bn

Remote control for virtualized desktops

It's official: Dell is now a private company. Founder Michael Dell and Silver Lake Partners have completed their acquisition of the firm in a deal valued at around $24.9bn.

"Today, Dell enters an exciting new chapter as a private enterprise," Dell (the man) said in a canned statement. "Our 110,000 team members worldwide are 100 percent focused on our customers and aggressively executing our long-term strategy for their benefit."

Note that the aforementioned team is a bit thinner than it was before, following a "limited workforce reduction" designed to make Dell (the company) more efficient now that its shares are off the NASDAQ exchange.

Mickey D's battle to regain control of the company he created was not an easy one. Along the way, he faced down a challenge from "activist investor" Carl Icahn, who suggested an alternative debt restructuring plan that was ultimately rejected by Dell's board of directors.

Under the terms of the final deal, Dell stockholders will receive $13.75 in cash plus a special cash dividend of $0.13 for each share, for a total payout of $13.88 per share.

Having resumed control of the company, Dell says he plans to expand its reach in the enterprise, target developing markets, increase sales through the channel, and "accelerate an enhanced customer experience" – whatever that means.

Dell began life in Michael Dell's off-campus University of Texas dormitory room in 1984 and floated its initial public offering four years later, doubling its worth to become an $80m company practically overnight. After 25 years as a public company, on last count it had a market capitalization of $24.37bn.

Trading in Dell's common stock ceased as of the close of the market on Thursday, with a final price of $13.86 per share. ®

Top 5 reasons to deploy VMware with Tegile

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Managing SSL certificates with ease
The lack of operational efficiencies and compliance pitfalls associated with poor SSL certificate management, and how the right SSL certificate management tool can help.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.