Dell was delisted from the NASDAQ and went private after Michael Dell’s $24.9 billion buyout of the computer company was completed by Silver Lake investment fund, Reuters says.
The deal sparked severe discussions among the market participants and company’s shareholders. For instance, billionaire Carl Icahn, owing a stake in the company, argued that the deal did not offer enough to shareholders.
The private equity giant, Silver Lake, took advantage of the situation as the minority shareholders have to sell the company’s shares in case the board of directors backs this. As the result, the stockholders will receive $13.88 per share, almost the same price as on the stock exchange.
One of the reasons why the company went private was its frustrating reports. In 2012, Dell earned only $2.4 billion, well below the analysts’ expectations.
Dell was founded by Michael Dell in 1984 when he was in college. The company sold and produced computers and could take the leading position. Now it faces a major restructuring, abandoning its versatile image on the market and emphasizing on providing of computer services to corporations.
