Dell Founder Said to Seek Majority Control Using Personal Funds.
January 30, 2013 - 8:50am
By MoneyNewsMichael Dell is seeking majority control of Dell Inc. under the buyout that would combine his 15.7 percent stake in the company with as much as $1 billion of his personal funds, said people familiar with the matter.Michael Dell may contribute equity financing of $500 million to $1 billion, said the people, who asked not to be identified because the talks are private. Dell, the PC maker founded by Michael Dell in 1984, is nearing a buyout led by Silver Lake Management LLC, and Microsoft Corp. may provide part of the funding, people familiar with the situation have said.Going private and pushing his ownership stake past 50 percent will enable Chief Executive Officer Michael Dell to reposition the company amid shrinking PC sales and an industrywide shift to mobile and cloud computing without the scrutiny and stock fluctuations that come with being publicly traded.Continue reading this article »
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