Dell has finally agreed to let founder Michael Dell take the company private through a partnership with investment firm Silver Lake Partners, in a deal valued $24.9 billion. The transaction, which is still pending regulatory approval, should see stockholders receiving $13.88 per share of common stock (including payment of a special cash dividend) and is expected to close in Q3 of Dell’s 2014 fiscal year. In a statement released to the press, Michael Dell said that the newly private company’s mission will be to “serve our customers with a single-minded purpose and drive the innovations that will help them achieve their goals.”
Update: On the company’s investor call, Michael Dell, who retains 75 percent ownership under this new structure, reaffirmed Dell’s commitment to innovation and customer service — goals he said can now be better achieved “without the scrutiny of operating as a public company.” He also outlined several key areas of focus for the newly private Dell, among which expanding its presence in emerging markets, investing in R&D and acquisitions for enterprise solutions, as well as the PC, tablet and virtual computing space are key pillars.
