The latest on Dell’s record-setting privatization plan:
Michael Dell’s attempt to take his company private in a US$24.4 billion deal has moved forward another inch or so in what is turning out to be a very long road for the CEO.
Dell notified its shareholders on Friday that the special committee formed in February, after Michael Dell first unveiled his buyout proposal, had concluded that his offer was the best option. The proposal entails Dell and investment firm Silver Lake Partners acquiring the company for $13.65 per share. Microsoft is also participating in the transaction, with a $2 billion loan.
The irony is too thick to even make fun of. Here’s Dell in 1997, on what he’d do if he were Steve Jobs returning to Apple:
What would I do? I’d shut it down and give the money back to the shareholders.
Well, at least Dell escaped having to shut his company down.