Michael Dell and Silver Lake Partners has received regulatory clearance to take Dell Inc. private. Michael Dell and Silver Lake Partners have purchased Dell Inc. for $24.9 billion.
This was the last major obstacle that Mr. Dell and Silver Lake had to get through for the transaction to be completed. The transaction is expected to close by the end of Q3 2014.
Dell will be publicly traded until then. Michael Dell will own around 75% of the company and Silver Lake Partners will own the rest of it. Microsoft Corporation is also funding part of the deal. Dell is one of the largest distributors of hardware powered by Microsoft Windows.
Dell already received shareholder approval for the deal. Between 2001 and 2006, Dell was the largest PC company. The company was founded by Michael Dell in 1984 from his college dorm room at the University of Texas. Today Dell is number 3 behind Lenovo and HP.