Business, Dell, News

Dell now a Privately Owned Company

michael dellYesterday, Dell announced that they are now a privately held company, with a reported buyout of $24.4 billion from Dell’s Founder, Chairman and Chief Executive Officer Michael Dell and partners.

In a press release Dell said that Dell stockholders to receive $13.65 per share in cash which is 25% higher than Dell’s closing share price of $10.88 last Jan. 11, 2013. Michael Dell himself offered up to $1 billion from his personal fund in order for the buyout to push through. Microsoft also contributed 2 billion as loan for the company and said that they’re investment in the Dell privatization is to support a partner.

“Microsoft has provided a $2 billion loan to the group that has proposed to take Dell private. Microsoft is committed to the long term success of the entire PC ecosystem and invests heavily in a variety of ways to build that ecosystem for the future.

“We’re in an industry that is constantly evolving. As always, we will continue to look for opportunities to support partners who are committed to innovating and driving business for their devices and services built on the Microsoft platform.”

Being a private company will allow Dell to continue operating without the pressure from investor and will most likely to focus on enterprise and if Dell will be following IBM’s foot steps, we may soon see the company selling it’s PC business.

Michael Dell will remain as the company’s Chairman and Chief Executive Office and he’s one of the few American CEO to have visited the Philippines.