kottke.org posts about Michael Dell

Dell to go privateFeb 05 2013

In 1997, Dell Computer CEO Michael Dell famously said of Apple:

I'd shut it down and give the money back to the shareholders.

Today, Michael Dell is part of a consortium giving the money back to the shareholders and taking Dell Inc. private.

Under the terms of the deal, the buyers' consortium, which also includes Microsoft, will pay $13.65 a share in cash. That is roughly 25 percent above where Dell's stock traded before word emerged of the negotiations of its sale.

Michael S. Dell will contribute his stake of roughly 14 percent toward the transaction, and will contribute additional cash through his private investment firm, MSD Capital. Silver Lake is expected to contribute about $1 billion in cash, while Microsoft will loan an additional $2 billion.

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