Dell Shareholders OK $25B Buyout Offer From Founder, Silver Lake

Dell logo_GovConWireDell (NASDAQ: DELL) shareholders have given preliminary approval to a $24.9 billion buyout offer from founder and CEO Michael Dell and investment firm Silver Lake Partners that would take the computer manufacturer private.

The sale is slated to close before the end of the third quarter of Dell’s fiscal year 2014 and is subject to customary closing conditions, the company said Thursday.

Shareholders would get $13.75 for each share plus a special 13-cent dividend.

“I am pleased with this outcome and am energized to continue building Dell into the industry’s leading provider of scalable, end-to-end technology solutions, ” Michael Dell said.

Michael Dell and Silver Lake originally offered to buy Dell for $24 billion then increased their proposal to ward off a competing bid from activist investor Carl Icahn.

Check Also

Tahera Zamanzada Director Salesforce

Salesforce’s Tahera Zamanzada: Cloud Key to Enhancing Customer Experience, Advancing Digital Transformation

Tahera Zamanzada, director of digital strategy for the global public sector at Salesforce (NYSE: CRM), said the COVID-19 pandemic has prompted government agencies to advance digital transformation and deliver better customer service through the adoption of cloud platforms.

Tangram Flex

Tangram Flex Awarded Potential $95M Air Force Software Platform Dev’t IDIQ

Software engineering company Tangram Flex has received a potential five-year, $95M contract to help the U.S. Air Force develop and deploy a platform based on the company’s system integration technology.