Michael Dell Seeks Majority Control of Dell Computer Using His Own Money
January 30, 2013 9:18 AM
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Michael Dell could use as much as $1 billion of his own money
Dell has seen its share of the computer market slip away, and profits are on the decline while
rivals like Lenovo are growing rapidly
. Dell is currently a publicly traded company, but investors and founder Michael Dell are in the process of trying to take the company private.
reports that Dell founder Michael Dell is seeking majority control of the company and would use up to $1 billion of his own personal funds to take his current 15.7% stake to a majority stake.
If Dell Inc. goes private and Michael Dell is able to get his ownership past 50%, he would be able to reposition the company without being subject to the scrutiny and stock fluctuations that can hinder publicly traded companies. Michael Dell's 15.7% of his namesake company is estimated to be worth $3.6 billion as of close yesterday.
By putting up $500 million to $1 billion in addition to his current shares, Michael Dell would have roughly half of the $8 billion to $9 billion equity needed to take the company private.
reports that in addition to Michael Dell's own money and shares, Silverlake and Microsoft would each invest in the area of $1 billion to $2 billion.
Microsoft was initially tipped to be investing as much as
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Obligatory Apple/Dell reference...
1/30/2013 11:48:48 AM
So, is he going to just liquidate it and return the money to the (rest of the) shareholders then?
"And boy have we patented it!" -- Steve Jobs, Macworld 2007
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