Printed from http://www.electronista.com

Dell gains regulatory approval, will go private by end of 3rd quarter

updated 03:20 pm EDT, Tue October 1, 2013

Silver Lake deal worth $25B to complete by November 1st

Dell has cleared its final hurdle to going private, by receiving regulatory approval. The PC producer has revealed it has received "all necessary pre-merger regulatory clearances" for the $25 billion buyout by Silver Lake Partnerships and Dell founder Michael Dell, with the deal expected to close before the end of the third quarter of Dell's financial year, November 1st

The proposal was approved by Dell shareholders last month, with the offer consisting of payments of $13.75 in cash for every Dell common stock share and a cash dividend of $0.13 per share, totaling $13.88 per share, with the regular $0.08 per share quarterly dividend also going ahead as planned.

Up until a few days before the shareholder vote, there was another horse in the race to own Dell. Investor Carl Icahn challenged the Silver Lake offer with one of his own, but later withdrew his $18 per share proposal. In his letter of withdrawal to the board, Icahn suggested a similarity to Clark Gable's last words in Gone with the Wind, in that they "don't give a damn" about any other offer than the one that he believed undervalued the company.

Michael Dell's plans for Dell will see the company expanding on its tablet and PC lines, but the executive dismissed a possible return to building smartphones.



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Crucial MX100 256GB SATA-3 SSD

While the price-per-gigabyte ratio for magnetic platter-based hard drives can't be beat, the speed that a SSD brings to the table for ...

Narrative Clip

With the advent of social media technology, people have been searching for new ways to share the events of their daily lives -- be it ...

Blue's Mikey Digital

Blue Microphones, a company that makes some of the most popular digital USB microphones among podcasters and musicians, has for some t ...

Sponsor

toggle

Most Commented

 
toggle

Popular News