Dell returns money to shareholders, etc.

Dell Inc. today announced it has signed a definitive merger agreement under which Michael Dell, Dell’s 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.

Oh, how ironic. Dell isn’t going out of business, though, just going private.

  • GTWilson

    Words have this way of coming back to haunt you.

    • rattyuk

      wooooooohhhhooooohhhhhhh! (trying for a haunting sound)

    • JohnDoey

      Making lousy products like Dell has done is much worse, though. They had 20 years to kick their Microsoft addiction and didn’t even try.

  • JohnDoey

    All I can think of is the various times I consulted with I-T departments over the years and they were always fixing broken Dells. Also, you would see the users sitting at Dells not knowing what they were doing, just hunting around for whatever combination of almost random moves might produce some actual work.

    People are right now taking jobs and their employer has them an iPad instead of chaining them to a Dell. That is human suffering wing alleviated. Dells should be illegal under OSHA and other workplace regulation.

    So the fact that they have one foot in the grave is great news.

  • tylernol

    Silver Lake’s modus operandi is to charge massive consulting fees, layoff almost everyone and sell off “non-core” assets, and then sell the remnants to some sucker. This will put a major dent in Austin’s economy.

  • I believe the difference between what they’re doing and “going out of business” is largely one of semantics.

    After a decade or more of crappy, low end products and abysmal service, it couldn’t happen to a better company.

  • For all the schadenfreude, this may actually be a smart move. Look at all the BS about Apple and its stock. The problem is that while Dell gets rid of the shareholders he now has creditors to satisfy. Remains to be seen if that is really easier.