Dell (DELL) Bid Could Rise to $15/Share - Jefferies

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Dell (DELL) Buyout Fight Begins, Shareholder Claims Company Worth $24/Share

February 8, 2013 4:16 PM EST

On Tuesday, Michael Dell and Silver Lake Partners announced a $24.4 billion deal to take the company private in management-led leveraged buyout, partnering with Microsoft (Nasdaq: MSFT). The per share offer price was $13.65, a 25 percent premium to Dell's closing share price of $10.88 on Jan. 11, 2013, the last trading day before rumors of a possible going-private transaction were... More

Dell (DELL) to Go Private for $13.65/Share in Cash

February 5, 2013 9:21 AM EST

Dell Inc. (Nasdaq: DELL) announced it has signed a definitive merger agreement under which Michael Dell, Dells Founder, Chairman and Chief Executive Officer, in partnership with global technology investment firm Silver Lake, will acquire Dell.

Under the terms of the agreement, Dell stockholders will receive $13.65 in cash for each share of Dell common stock they hold, in a transaction valued at approximately $24.4 billion. The price represents a premium of 25 percent over Dells closing share price of $10.88 on Jan. 11, 2013, the last trading day before rumors of a possible going-private transaction were first published; a premium of approximately 35 percent over Dells enterprise value as of Jan. 11, 2013; and a premium of approximately 37 percent over the average closing share price during the previous 90 calendar days ending Jan. 11, 2013. The buyers will acquire for cash all of the outstanding shares of Dell not held by Mr. Dell and certain other members of management.

The Dell Board of Directors acting on the recommendation of a special committee of independent directors unanimously approved a merger agreement under which Michael Dell and Silver Lake Partners... More