Dell will invest in additional acquisitions and remain committed to its struggling PC business once a US$24.9 billion deal to go private is complete, according to company officials.
As a private company, Dell can also recapture the “entrepreneurial spirit” of its earlier days, founder and CEO Michael Dell said on a conference call Thursday. Dell led the buyout along with investment firm Silver Lake Partners. Shareholders approved the deal Thursday, marking a long-awaited victory for Michael Dell, who believes that by going private, the company can more effectively execute its strategy to push into high-margin products and services without pressure from Wall Street.
Michael Dell will hold a 75 percent stake in the private company, and the deal is expected to close in Dell’s current quarter, which ends Nov. 1.
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