Dell going private, deal approved by shareholders

006_michaeldellFor a long time, Dell has been a struggling company.  In the recent years, the grueling competition took Dell by surprise and the company started to fall.  Not only did the company’s sales go down, but also its shared.  The company’s owner, Michael Dell previously wanted to take the company private, but was having problems with investor Carl Icahn.

Today, in a press release by Dell, the company owner has gotten approval from shareholders to take the company private.  This is an attempt from Michael Dell to save the company, perhaps change its direction, become more innovative and than come back into the game.

Michael Dell will buyback the company at the expense of $25 billion.  This deal includes payments of $13.75 per share to stockholders and “payment of a special cash dividend of $0.13 per share to stockholders of record as of a date prior to the effective time of the merger.

It’s good to see that Dell is interested in saving the company from completely falling apart.  $25 billion is not a small amount, so he must have a plan in mind because he’s spending so much money.  Due to the company going private, Dell will have time and resources to come up with ways to reconstruct the company to better suit the current market.  The once popular PC vendor is now almost a forgotten company.  With the attention almost always on Samsung and Apple these days, several companies are suffering from profit losses.

CategoriesBreaking News
Hamza Khalid

Hamza Khalid is the Lead Editor at The Jolt Journal. You're more than welcome to follow him on Twitter and follow The Jolt Journal on Twitter and Facebook. If you have any questions, concerns, or need to report something in this article, please send our team an email at [email protected]. This story may be updated at any time if new information surfaces.

At The Jolt Journal, no one tells us what to write or how to write it. This is why, in the era of lies and bias, readers turn to an independent source. Rest assured, all information on our website is free of any bias or influence. If you see anything wrong with a story, please don't hesitate to reach out. We do our very best to report on the latest available information.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.