Michael Dell Close to Buyout Deal: Reports
The Wall Street Journal reported on Tuesday that Dell CEO and founder Michael Dell is close to completing a $23 billion deal to take the No. 3 PC maker private. Citing people familiar with the matter, The Journal reports that late on Monday Dell was in talks with Microsoft (MSFT) and private-equity specialist Silver Lake in a deal to offer shareholders between $13.50 and $13.75 a share.
CNBC also reported early on Tuesday that a deal could happen early on Tuesday.
A buyout would help Dell re-invent itself, say analysts, boosting its push into lucrative areas such as enterprise services.The Round Rock, Texas-based firm declined to comment on this story when contacted by TheStreet, saying that it doesn't comment on speculation. Dell shares closed down 2.64% on Monday. --Written by James Rogers in New York. Follow @jamesjrogers --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: firstname.lastname@example.org.
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