Originally posted on VentureBeat:
Dell has reached an agreement to go private, a move that marks the end an era for the world’s third-largest computer maker.
The Round Rock, Texas-based company was once the PC market leader, but it now trails Hewlett Packard and Lenovo. Sources say that going private will give it the space to remake itself as a provider of business technology.
The terms of the $24.4 billion buyout are that the company’s founder and CEO, Michael Dell, and private equity firm Silver Lake will pay $13.65 per share in cash. Microsoft will provide $2 billion in a loan, rather than equity, which is the only real surprise. The debt financing comes from Bank of America Merrill Lynch, Barclays, Credit Suisse and RBC Capital Markets.
Sources familiar with the deal say it’s a highly strategic play for Microsoft to make an investment. And it should help ensure that the Windows operating system remains…
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