Dell OKs $24B Go-Private Offer From Founder, Silver Lake

Law360, New York (February 5, 2013, 11:18 AM EST) -- Lagging PC maker Dell Inc. will go private in a $24.4 billion sale to a private equity-led buyer group that also includes the company's founder, it said Tuesday, marking one of the biggest leveraged buyouts since the financial crisis chilled dealmaking in 2008.

Under the deal's terms, the company's CEO and founder, Michael Dell, and tech-focused investor Silver Lake Partners will offer shareholders a $13.65 per share cash payout – a 37 percent premium to the stock's average close over the last 90 days.

The buyer...
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