Dell goes private under £15.6billion buyout deal

After numerous court cases and delays of a shareholder vote, Dell shareholders have approved buyout by founder Michael Dell.

09:26 13 September 2013

After months of debate and after numerous court cases, Dell’s shareholders have finally accepted the £15.6billion buyout offer by founder Michael Dell on Thursday, September 12. This move ends the computer maker’s 25-tenure as a public company. 

 

In a statement, Michael Dell said: "I am pleased with this outcome.”

 

"As a private enterprise, with a strong private-equity partner, we'll serve our customers with a single-minded purpose and drive the innovations that will help them achieve their goals.”

 

Dell has suffered serious blows before the deal was approved. Last month, its profits took a nosedive and declined by a staggering 72per cent for the quarter as more and more consumers turned away from personal computers.

 

Mr Dell and his partners have said that painful changes must be done in order to turn around the company and these changes could impact profits for the next two years. It is for this reason that they wanted to make the company private. 

 

The buyout would mean that shareholders will be paid $13.88 per share. They will also receive 8 cents per share quarterly dividend.