Dell Lifts on Buyout Rumor

Dell shares briefly spiked 2.5% on rumors that CEO Michael Dell would buy the company he founded from shareholders.
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NEW YORK (

TheStreet

) -- Shares of PC maker

Dell

(DELL) - Get Report

rose by about 2.5% in mid-afternoon trading on revived rumors that CEO Michael Dell would make a bid to buy his company from shareholders.

Maverick Capital Management CEO Lee Ainsle said Tuesday during the Value Investing Conference that the CEO is frustrated with the company and could look to buy the computer maker, or issue a special dividend,

Marketwatch

reported.

TheStreet

reported in June that the Round Rock, Texas

Dell could be a take-private target

, though analysts were skeptical that the CEO could achieve sufficient financing for a transaction to take place.

RBC Capital Markets analyst Amit Daryanani dismissed the buyout speculation, adding that Dell "shrugged off" the rumor when it initially surfaced earlier this year.

Dell shares closed Tuesday at $13.92, up 19 cents or 1.38%.

Dell did not immediately respond to a request for comment on this story.

--Written by Olivia Oran in New York

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