Dell Officially Goes Private, Delists from Nasdaq
With the buyback complete, Dell will delist from the Nasdaq this afternoon and once more be a privately-owned company.
Back in September, Dell announced that it would be going private after shareholders approved a $25 billion deal offered by founder Michael Dell and Silver Lake Partners. Today, that deal closed, which means Dell is officially a privately-owned company once more. The company announced this morning that the 'go-private transaction' was complete. Dell will delist from the Nasdaq after close-of-trading today.
"Today, Dell enters an exciting new chapter as a private enterprise," said Michael Dell. "Our 110,000 team members worldwide are 100 percent focused on our customers and aggressively executing our long-term strategy for their benefit."
Under the terms of the agreed upon deal, stockholders will receive $13.75 per share of common stock plus a cash dividend of $0.13 per share for a total of $13.88 per share. In addition, there's also a guaranteed third quarter dividend of $0.08 per share that will be paid at or before closing. The total transaction is valued at approximately $24.9 billion.
Michael Dell last month said that Dell will continue to expand its enterprise solutions and services business. Right now, the company's bread and butter is PC sales, but it's hoping to shift some of its focus away from the PC and mobile markets and focus more on the enterprise segment. Going private gives Dell the room to shake things up and make some really bold moves without shareholder scrutiny.
Dell was founded in 1984 while Michael Dell was a student the University of Texas. The company was run out of his dorm room and sold PCs built from stock parts directly to consumers.
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Jane McEntegart is a writer, editor, and marketing communications professional with 17 years of experience in the technology industry. She has written about a wide range of technology topics, including smartphones, tablets, and game consoles. Her articles have been published in Tom's Guide, Tom's Hardware, MobileSyrup, and Edge Up.
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opmopadop Lets hope this sets a precedence on how companies can fix their shit up instead of taking the 'bankruptcy' approach.Reply
Good luck Michael. -
tolham great news. I look forward to seeing what Dell comes up with. if they really want to shake things up, they could take a stab at a steambox.Reply -
Martell1977 Good luck Mr. Dell, IMO the first step should be to improve quality and design. There is no good reason for a desktop mid-tower to weigh 40lbs+. Second step should be better options and value.Reply
I'll be watching what they do, but I haven't recommended Dell for an OEM machine in many years, maybe that will change, but I wont hold my breath. -
spectrewind Reply11820924 said:faggot needs to die
Your account on THG should die. And you should be prevented from generating a new one. -
spectrewind Dell USED to produce good hardware. Used to...Reply
I'm not sure whether or not going public, followed by answering to short term demands of investors killed their quality, but that's what it seems like. Although, I think every company suffers from this problem (I AM NOT A BUSINESS MAJOR, just what I see). Hopefully going private can cure this.
Would I buy anything Dell makes now? NO. If they can turn the ship around and show their unwillingness to cut corners and make a quality product at a decent price, then that will earn them their name back on the table to a lot a companies looking for solid turn-key computer solutions.