$GME 
The Dell Blueprint (2013)
In 2013, Michael Dell and Silver Lake Partners took Dell Inc. private in a $24.4 billion deal at $13.65 per share —a 25% premium over the stock price before rumors surfaced. Here’s how it played out:

Ownership Before Buyout: Michael Dell owned ~14% of Dell Inc.’s shares pre-buyout—not a majority, but enough leverage to lead the deal.
Financing & Partnerships: He teamed up with private equity firm Silver Lake and secured a $2 billion loan from Microsoft to fund the buyout.

Outcome: After going private, Michael Dell controlled ~75% of the company, giving him full operational freedom outside public markets.
Key takeaway? You don’t need all the shares—you just need enough to control the board and push through a deal. But here’s where things get tricky when we talk about GameStop…

GameStop: A Whole Different Beast 

If someone wanted to take GameStop private today, they’d face some unique challenges—and opportunities—that make this situation very different from Dell’s:

1. The Ownership Landscape

Ryan Cohen , GameStop’s largest shareholder, owns ~12.9% of the company. That’s similar to Michael Dell’s starting position—but Cohen isn’t leading a buyout (yet).

The rest of GameStop’s float is held by retail investors, institutions, and… well, let’s call them “meme stock enthusiasts.” Unlike Dell, which had a more traditional investor base, GameStop’s shareholder base is fragmented, passionate, and unpredictable.

2. Stock Price Volatility

Dell’s stock was relatively stable before its buyout, trading around $10-$12 for months. GameStop? Not so much. Its price has swung wildly thanks to short squeezes, Reddit rallies, and speculative trading.
For example, GME traded below $5 in 2020 but skyrocketed to $483 during the meme stock frenzy in early 2021. Even now, it hovers between $20-$30 , making any buyout offer tricky to price fairly without sparking outrage or lawsuits.

3. Public Sentiment Matters

Dell’s shareholders were mostly institutional investors who cared about financials. GameStop’s shareholders are a mix of long-term believers, day traders, and meme-stock loyalists who see the company as more than just a business—it’s a cultural movement.
Any attempt to take GameStop private would need to account for this emotional attachment. Offering too low could trigger backlash; offering too high could make the deal uneconomical.

4. Regulatory Scrutiny

Dell faced scrutiny over whether $13.65/share was fair, but GameStop operates in an era of heightened SEC oversight and retail investor activism. Regulators would likely scrutinize any buyout proposal closely, especially given the stock’s history of volatility and market manipulation allegations.

What Would It Take to Go Private?

Let’s say Ryan Cohen—or another deep-pocketed investor—wanted to take GameStop private. Here’s what they’d need:

A Premium Offer: Shareholders won’t settle for anything less than a significant premium over the current price. If GME is trading at $25, expect offers closer to $35-$40+ per share to avoid resistance.

Deep Pockets: With GameStop’s market cap hovering around $12-13 Billion , a buyout would require billions in financing. That’s a lot of capital, even for Cohen or a private equity partner.

Strategic Vision: Investors would demand clarity on why taking GameStop private makes sense. Is it to restructure debt? Pivot toward e-commerce? Or simply cash out while the stock is hot?
Could It Happen?

Absolutely—but it wouldn’t be easy. GameStop’s volatile stock, passionate shareholder base, and uncertain future make it a far riskier target than Dell ever was. Still, if executed carefully, a buyout could give leadership the breathing room to execute their turnaround plan without quarterly earnings pressure.
#GME