Michael Dell regains control of the company he founded
Dude, Michael Dell's getting a Dell. After months of negotiations and public bickering over the value of Dell, company shareholders voted on Thursday to approve the $24.9 billion sale to Michael, finally putting an end to what turned into a mini soap opera primarily starring Dell's founder and billionaire businessman Carl Icahn, who was one of the most outspoken opponents of the deal.
Microsoft's $2 billion loan helped Michael Dell and partners purchase Dell for $24.4 billion.
First things first -- if you haven't heard by now, Dell is going private. Michael Dell, with the help of private equity firm Silver Lake and a significant loan from Microsoft, have agreed to pay Dell's public shareholders $13.65 a share, valuing the transaction at $24.4 billion. Now Mr. Dell is free to run the company without having to answer to shareholders, and while it will likely be years before we know if this was in the best interest of Dell, there's an interesting side story involving Microsoft that deserves attention.
Reports from all over the Web are saying the GoDaddy.com just changed hands for billions of dollars. According to GoDaddy's official statement, however, this isn't a sale, but a "strategic investment" and partnership with KKR, Silver Lake, and Technology Crossover Ventures, a trio of investment firms.