Law360, New York (February 08, 2013, 5:39 PM ET) -- Dell Inc. must have $7.4 billion in its bank account for its buyout to close, according to documents released Thursday, which likely means a big foreign cash transfer and a pricey tax bill for the tech giant.
Buried in Section 7.1(d)(iii) of the merger agreement is a provision that allows buyers Michael Dell and Silver Lake Partners to terminate the deal if Dell has less than the “target amount” of cash on hand, which is defined elsewhere as $7.4 billion. The merger agreement was filed as...
Dell Faces Hefty Tax Bill Thanks To $7B Cash Floor
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