Term Sheet

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Decision day at Dell

September 12, 2013: 6:30 AM ET

dell-computer-logoThe long Dell saga nears its conclusion.

FORTUNE -- Dell Inc. shareholders today are expected to approve a $24.5 billion buyout of the company by CEO Michael Dell and private equity firm Silver Lake, more than seven months after the agreement was first announced.

Since then there has been a go-shop process that included serious interest from The Blackstone Group, Carl Icahn's entry into the fray, crumbling PC industry data, numerous vote postponements and a 23 cent per share increase in the ultimate price (including a 13 cent per share special dividend).

Icahn on Monday dropped his longstanding challenge to the deal, although he is planning to seek appraisal rights in a Delaware court. And, yesterday, Standard & Poor's cut Dell's (DELL) corporate credit rating to junk status.

I discussed the deal on CNBC earlier this morning. Video below:

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About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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