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Feb 5, 2013

Dell to go private in landmark $24.4 billion deal

SAN FRANCISCO/NEW YORK (Reuters) – Michael Dell will take Dell Inc private for $24.4 billion in the biggest leveraged buyout since the financial crisis, a deal that allows the billionaire chief executive to attempt a revival of his struggling computer company without Wall Street scrutiny.

The deal, which requires shareholder approval, would end a 24-year run on public markets for a company that was conceived in a college dorm room and quickly rose to the top of the global personal computer business – only to be rendered an also-ran over the past decade as PC prices crumbled and customers moved to tablets and smartphones.

Feb 2, 2013

Dell nears buyout that could top $24 billion: sources

NEW YORK (Reuters) – Dell Inc is edging closer to an agreement to sell itself to a buyout consortium led by Michael Dell, its founder and chief executive, and private equity firm Silver Lake Partners in a deal that could top $24 billion (15.3 billion pounds), people familiar with the matter said on Friday.

The buyout consortium is negotiating taking Dell private at $13 to $14 per share, two of the people said. This translates into an equity valuation for the Round Rock, Texas-based company of between $22.6 billion and $24.4 billion.

Feb 1, 2013

Dell nears buyout that could top $24 bln-sources

NEW YORK, Feb 1 (Reuters) – Dell Inc is edging
closer to an agreement to sell itself to a buyout consortium led
by Michael Dell, its founder and chief executive, and private
equity firm Silver Lake Partners in a deal that could top $24
billion, people familiar with the matter said on Friday.

The buyout consortium is negotiating taking Dell private at
$13 to $14 per share, two of the people said. This translates
into an equity valuation for the Round Rock, Texas-based company
of between $22.6 billion and $24.4 billion.

Feb 1, 2013

Dell nears buyout, deal could come as soon as Monday -sources

NEW YORK, Feb 1 (Reuters) – Dell Inc is nearing an
agreement to sell itself to a buyout consortium led by its
founder and Chief Executive Michael Dell and private equity firm
Silver Lake Partners, possibly announcing a deal as soon as
Monday, according to two people familiar with the matter.

Michael Dell is expected to take majority ownership of the
world’s third-largest personal computer maker, which currently
has a market value of $23 billion, while Silver Lake and
Microsoft Corp would become minority investors, a third
person familiar with the matter said.

Jan 29, 2013

Analysis: Dell LBO talks reveal other leverage options

NEW YORK (Reuters) – A bid to take Dell Inc private by buyout firm Silver Lake and its partners underscores the financing market’s willingness to lend up to $15 billion to the world’s No.3 PC maker — money that could be used to buy back shares and pay dividends even if the deal doesn’t come together.

The Silver Lake-led bidding group has lined up debt financing from at least four major banks and is negotiating a final price to pay Dell shareholders, people familiar with the matter have said.

Jan 29, 2013

Dell LBO talks reveal other leverage options

NEW YORK, Jan 29 (Reuters) – A bid to take Dell Inc
private by buyout firm Silver Lake and its partners underscores
the financing market’s willingness to lend up to $15 billion to
the world’s No.3 PC maker — money that could be used to buy
back shares and pay dividends even if the deal doesn’t come
together.

The Silver Lake-led bidding group has lined up debt
financing from at least four major banks and is negotiating a
final price to pay Dell shareholders, people familiar with the
matter have said.

Jan 25, 2013

Silver Lake’s bid likely the best Dell shareholders get

NEW YORK, Jan 24 (Reuters) – A potential bid by private
equity firm Silver Lake and its partners to take Dell Inc
private is unlikely to be topped by other investors,
people familiar with the matter said.

Silver Lake has a major advantage in having secured the
backing of founder and CEO Michael Dell, who has a roughly 16
percent stake in the world’s No.3 PC maker and would participate
in the buyout consortium.

Jan 18, 2013

Silver Lake seeks investors in Dell deal-sources

NEW YORK/SINGAPORE, Jan 17 (Reuters) – Silver Lake Partners,
trying to finalize a bidding group to take Dell Inc
private, is in talks with the manager of Canada’s pension plan
and other potential investment partners, people familiar with
the matter said.

Dell also has formed a special committee to take a close
look at any potential deal on the table, multiple sources with
knowledge of the matter told Reuters.

Jan 18, 2013

Silver Lake hunts for investors in Dell deal-sources

NEW YORK/SINGAPORE, Jan 17 (Reuters) – Silver Lake Partners,
trying to finalize a bidding group to take Dell Inc
private, is in talks with the manager of Canada’s pension plan
and other potential investment partners, people familiar with
the matter said.

Dell also has formed a special committee to take a close
look at any potential deal on the table, multiple sources with
knowledge of the matter told Reuters.

Jan 16, 2013

Dell buyout talks advance, Silver Lake lines up banks-sources

NEW YORK/SAN FRANCISCO, Jan 15 (Reuters) – Talks to take
Dell Inc private are at an advanced stage with at least
four major banks lined up to provide financing, two sources with
knowledge of the matter told Reuters, propelling shares of the
No. 3 computer maker 7 percent higher.

Buyout firm Silver Lake Partners, which is leading the deal,
tapped Credit Suisse, Bank of America Merrill Lynch
, Barclays and RBC late last year to
finance a potential deal, the sources said on condition of
anonymity, because details have not been made public.