Dell Board Endorses Founder’s Buyout

Dell Board Recommends Founder's Buyout(Ping! Zine Web Tech Magazine) – Dell is well on its way towards a new acquisition. According to an ABC News report on Friday, the company’s Board recently recommended a buyout offer by founder Michael Dell.

Michael Dell has partnered with private equity firm Silver Lake in an attempt to take the company private. The acquisition price is set at $24.4 billion.

Silver Lake was previously involved in last year’s acquisition of domain registrar Go Daddy.

The bid has been considered somewhat controversial. Dell shareholder Icahn and Southeastern Asset Management previously pitched an alternative plan which would have let company shareholders retain their stakes in Dell with $12 a share in cash.

Dell went public in 1988.