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Dell: $24.8B Buyout Approved in Preliminary Tally
Dell says a preliminary tally shows that shareholders have approved a $24.8 billion offer from its founder to buy the company and take it private.
ROUND ROCK, TX- Dell says a preliminary tally shows that shareholders have approved a $24.8 billion offer from its founder to buy the company and take it private.
The deal will end Dell's 25-year history as a publicly held company.
Like other PC makers, Round Rock, Texas-based Dell Inc. has been hit hard in recent years by the continued shift away from desktops and laptops and toward tablets and other mobile devices.
Michael Dell, who is making the offer with a group of investors and lenders, has said he can turn the company around, but he says the process will involve a painful realignment that will likely trim its earnings for another year or two. Dell says the turnaround will be easier to pull off away from Wall Street.
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