Dell Shareholders Approve Silver Lake, Michael Dell Proposal
September 13, 2013
Dell (NASDAQ: DELL) shareholders have approved a proposal from Silver Lake and Michael Dell to take the company private in a transaction valued at $24.9 billion. Existing Dell stockholders will receive $13.75 per share, plus a special cash dividend of $0.13 per share prior to the closing of the deal. The preliminary vote, which passed with a reported 65%, effectively ends the seven-month buyout saga that included Carl Icahn, Southeastern Asset Management and another consortium led by The Blackstone Group. Mr. Dell will own about 75% of his company’s stock and remain as CEO going forward.