ROUND ROCK (October 29, 2013) Michael Dell and investment firm Silver Lake Partners have completed their $24.9 billion buyout of Dell Inc., the Round Rock-based computer giant said Tuesday.
Dell said its shares will stop trading at the end of the day, closing its quarter-century run as a public company.
Company founder Michael Dell hopes to turn around the struggling business as a private company away from the prying eyes of Wall Street.
Critics say the deal undervalued the company but the transaction was approved by Dell shareholders in September.
Under the agreement, Dell stockholders are getting $13.75 in cash for each share of Dell common stock they hold in addition to a special cash dividend of 13 cents per share for total consideration of $13.88 per share in cash.