After months of debate, Dell’s shareholders have finally agreed to a buyout offer today that would see the company go private.
Shareholders, including activist investor and second-largest holder of Dell stock Carl Icahn, will vote on the $24B buyout offer in just 12 more days.
For some time now, Dell founder and CEO Michael Dell (pictured above) has sought to take his company private in a huge $24.4 billion deal. But Blackstone and investor Carl Icahn opposed the deal, saying it undervalued the company, and were preparing to counter it.
Putting your company into play has its perils.
Remember what Michael Dell said when he was asked back in 1997 — when Steve Jobs returned to Apple — what he’d do if he were Jobs?
“I’d shut it down and give the money back to the shareholders.”
Just a few days after we reported that Dell’s largest investor would fight the $24.4 billion buyout, another shareholder has spoken out against the sale.
Dell has reached an agreement to go private; a move that marks the end an era for the third largest computer maker.
The company announced that it will allow Best Buy founder and former chairman Richard Schulze access to all the private information necessary to form an investor group — meaning it’s allowing itself to be put up for sale.
Electronics retail chain Best Buy reported dismal results in its fiscal 2013 Q2 earnings report today, with profits taking a 91 percent nose dive.
Rumors that EA is on the block drove its stock price up 5 percent today.
The stock photo site to end all stock photo sites has been acquired by the Carlyle Group and several key Getty Images management personnel.
Best Buy founder Richard Schulze wants to take the electronics retail store chain private, according to a letter sent to shareholders today.
Game publisher Electronic Arts is the latest rumored suitor looking to buy casual games maker PopCap for more than $1 billion, according to sources talking to TechCrunch’s Jason Kincaid.
Is Hulu up for sale? CNBC and the Wall Street Journal are reporting that the streaming-video service is mulling an unsolicited bid from a company whose identity is not being disclosed. Hulu, which scrapped plans for an IPO last December, may find more interest among buyers looking to strengthen their hand in the burgeoning market for online video.
It’s official: Groupon makes a ridiculous amount of money. In fact, it makes more than enough to reject Google’s offer, worth somewhere between $5 billion and $6 billion, to buy the daily-deal company.
Only in the bubble of Twitter-obsessed San Francisco would a buyout offer of $2.5 billion seem “insulting.”
Private equity firms TPG Capital and KKR are reportedly in talks to acquire hard-drive manufacturer Seagate, adding further credibility to rumors that cropped up yesterday that Seagate will be going private for the second time in a decade, according to a report by Bloomberg News.
Guest Post (Editor’s note: Serial entrepreneur Steve Blank is the author of Four Steps to the Epiphany. This column originally appeared on his blog.)
Guest Post (Editor’s note: “Ask the Attorney” is a weekly VentureBeat feature allowing start-up owners to get answers to their legal questions. Submit yours in the comments below and look for answers in the coming weeks. Author Scott Edward Walker is the founder and CEO of Walker Corporate Law Group, PLLC, a boutique corporate law firm specializing in the representation of entrepreneurs.)