Michael Dell To Buy Dell Inc. 175
awarrenfells writes "After a shareholder vote, Michael Dell is expected to buy out and take Dell Inc. private. This move comes in the wake of plans to move Dell into position as an enterprise computing provider, but some analysts state this move may have come too late, much of the target market being taken by IBM and HP already."
Nerval's Lobster provides some more details at Slash Cloud: "[T]he final buyout price was $13.75 a share, which includes a 13-cent-a-share “special dividend.” All told, that puts the deal’s price at $24.9 billion. In order to reach this point, Dell and Silver Lake had to fend off activist investor Carl Icahn and investment firm Southeastern Asset Management, which made their own combined play for a restructured capitalization. In a series of public letters, Icahn argued that Dell’s privatization proposal undervalued the company, and—at least until the beginning of September—made it very clear that he was willing to fight things out in court. By convincing the shareholders that his plan is the best route forward, Dell avoids what could have devolved into a very protracted and messy battle. Michael Dell wants to focus the majority of the company’s efforts on services, essentially remaking it into a tech firm more along the lines of IBM."
Re:Good (Score:4, Informative)
He happens to buy? The company is named after him, he founded it!
Re:Good (Score:5, Informative)
Cute. The company he's buying happens to have the same name as he does. So It would be like someone name McDonald buying a burger company, or somebody named Ford buying an automobile manufacturer
The reason the company he's buying happens to have the same name as he does is because he founded the company in the 1980's. It later went public, and this is not the first time he's tried to take it private again. Many, many times over the years, he's made large stock buys/sells in the company to try to force an adjustment to the share price and/or reassure investors.
Obligatory disclaimer: I used to work for the company, and while I wouldn't say he's a friend, I've met him several times.
Re:Good (Score:5, Informative)
More specifically, it'd be like Henry Ford buying Ford Motor Company. Michael Dell founded Dell, the name is not a coincidence.
Re:Good (Score:5, Informative)
What are you even talking about. Micheal Dell started that company from the ground up building computers one at a time by himself. He put a lot of hard work and time into that company and he sees it's in trouble. So instead of cashing out and getting the fuck away like most people would he takes it appon himself to buy up the company, make it private and try and fix it. He's definitely tied to that company he's treating it like he would a child that has lost it's way. What you are suggesting is that he's just some random guy who happens to have the same name and it's not a big deal. It's a huge deal, you know he's not going to come in there and run it to maximize profits short term, that he's not going to sell off everything to show profits to investors. A move like this suggests that he wants to go in there an fix the company long term without worrying about investors breathing down his neck.
Your trivializing this action in a day when it doesn't usually happen with large companies. Even apple was still publicly shared when Jobs took back his roll.
Re:I'd shut it down... (Score:5, Informative)
Save your scorn for Michael Dell - it's a direct quote [cnet.com].