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"Dell, the US PC manufacturer, is to go private after agreeing a buyout deal led by its founder Michael Dell and involving private equity firm Silver Lake and Microsoft.  Michael Dell and Silver Lake are paying $13.65 per share in cash for the company, which has struggled in recent years but remains the world&amp;#039;s number three computer maker. This values the transaction at $24.4billion (\u00A315.5bn).    Taking the company private would give Michael Dell greater freedom to accelerate efforts to restart the firm&amp;#039;s growth, as well as stop the restrictive quarter-on-quarter scrutiny from public shareholders. The parties announced today (January 5) that the deal will be financed through a combination of cash and equity contributed by Michael Dell, cash from Silver Lake and Michael Dell&amp;#039;s investment firm MSD Capital, and a $2bn loan from Microsoft.  BofA Merrill Lynch, Barclays, Credit Suisse and RBC Capital Markets have committed to debt financing, they said.  Michael Dell, who owns around 14% of Dell&amp;#039;s common shares, will continue to lead the firm as chairman and chief executive after the buyout. Having approached the company&amp;#039;s board back in August 2012 with a view to take the company private, he said that the move would &amp;quot;open an exciting new chapter for Dell, our customers and team members&amp;quot;.  He added that Dell is still in the process of turning around its business, and going private will better support that process.   [Dell Latitude 10 tablet] &amp;quot;We can deliver immediate value to stockholders, while we continue the execution of our long-term strategy and focus on delivering best-in-class solutions to our customers as a private enterprise,&amp;quot; he said.  &amp;quot;Dell has made solid progress executing this strategy over the past four years, but we recognise that it will still take more time, investment and patience, and I believe our efforts will be better supported by partnering with Silver Lake in our shared vision.  &amp;quot;I am committed to this journey and I have put a substantial amount of my own capital at risk together with Silver Lake, a world-class investor with an outstanding reputation. We are committed to delivering an unmatched customer experience and excited to pursue the path ahead.&amp;quot; Egon Durban, a Silver Lake managing partner, described Michael Dell as a &amp;quot;true visionary&amp;quot; in the global technology industry.  &amp;quot;Silver Lake is looking forward to partnering with him, the talented management team at Dell and the investor group, to innovate, invest in long-term growth initiatives and accelerate the company&amp;#039;s transformation strategy to become an integrated and diversified global IT solutions provider,&amp;quot; he said.  The transaction is expected to complete before the end of the second quarter of Dell&amp;#039;s financial year 2014.  "^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.digitalspy.com/tech/news/a456494/dell-to-go-private-in-244-billion-buyout-deal/>