Dell Inc.'s founder and global technology investment firm Silver Lake plan to take the computer giant private in an acquisition worth roughly $24.4 billion. Dell computers and servers can be found on the desktops and in the back rooms of most banks.
Michael Dell has brokered a deal whereby stockholders will receive $13.65 in cash for each share of Dell common stock, a 37 percent premium over the Dell's average closing price, the company said in a press release.
Dell's board of directors unanimously approved the sale.
The computer company will now enter into a 45-day buffer period where Dell will shop for a competing bidder. After that "go shop" period, a final decision will be made on the acquisition.
"Dell has made solid progress executing this strategy over the past four years, but we recognize that it will still take more time, investment and patience, and I believe our efforts will be better supported by partnering with Silver Lake," said Michael Dell, in a press release.