Dell Going Private
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Code : GOV0062
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Region : United States |
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Abstract: On Feb 5, 2013, Michael Dell, Chairman, CEO and Founder of Dell Inc., and Silver Lake Partners announced their intention to purchase all the outstanding shares of Dell and delist the company to turn it into a privately held one. In this leveraged buyout transaction, shareholders would be paid US$13.65 per share, making it one of the largest private equity backed up buyout deals in the world. After the offer was made, there were counter offers from other players, including the private equity player Blackstone Plc. The case discusses the nitty-gritty of Michael Dell’s offer, the process of delisting of a public company, the issue of conflict of interest, and the reasons for taking the company private. The case also discusses the fight for corporate control of Dell. |
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Pedagogical Objectives:
Keywords : Leverage buyout, Shrinking PC market, Inexpensive valuation, Counter offer, Voting, Post PC era, Silver Lake, Dell, Private, Conflict of interest, Shareholders, role of board members, corporate governance
Contents :
» Introduction
» Background
» Dell Going Private
» Fading Dell?
» Dissatisfied Dell Shareholders
» Counter Offers
» What Next?
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