Dell, one of the world’s largest makers of personal computers, on Wednesday announced the completion of its acquisition by Michael Dell, Dell’s founder, chairman and chief executive officer, and Silver Lake Partners, a leading global technology investment firm.
“Today, Dell enters an exciting new chapter as a private enterprise. Our 110 000 team members worldwide are 100% focused on our customers and aggressively executing our long-term strategy for their benefit,” said Mr. Dell.
Under the terms of the merger agreement, Dell stockholders will receive $13.75 in cash for each share of Dell common stock they hold, plus payment of a special cash dividend of $0.13 per share to stockholders of record as of the close of business on Oct. 28, 2013, for total consideration of $13.88 per share in cash. The total transaction is valued at approximately $24.9 billion.
The transaction was approved by Dell’s stockholders at a special meeting of stockholders held on Sept. 12, 2013. Trading in Dell’s common stock will conclude at the end of business today, and the company has commenced the process to delist its common shares from the NASDAQ Stock Market.