Following a late-night meeting between Dell’s board of directors, the No. 3 computer maker announced this morning that it has agreed to go private. The $24 billion transaction-the largest leveraged buyout since the financial crisis-is being led by founder and CEO Michael Dell.
In the weeks leading up to the decision, Dell was rumored to be “increasingly worried about his legacy,” a reflection of his failure to implement necessary changes needed to turn a profit. Microsoft is also part of the investment consortium, donating a handsome $2 billion to help keep one of its key partners alive. Read more at CNBC.
{Andy Heller-Matzav.com Newscenter}
