Linked by Thom Holwerda on Thu 12th Sep 2013 23:17 UTC
Hardware, Embedded Systems

Michael Dell has the won the battle for control of the computer company that he created, after shareholders backed his $24.8bn offer to take Dell private and revive the struggling business away from the incessant pressure of Wall Street.

The vote clears the way for the huge buyout, in which Dell is working with private equity partners Silver Lake after seeing off a challenge from activist investor Carl Icahn.

Must have been hard for him to see his baby slide into irrelevance. I hope for him he can turn things around, but I'm not sure if they'll be able to - they missed the boat, and it's probably in Fiji by now.

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Member since:

that should be the new title

Edited 2013-09-12 23:39 UTC

Reply Score: 7

ezraz Member since:

you beat me to it. i'll provide the footnote for the youngins in the crowd -

In 1997 when asked about what Steve Jobs should do first now that he's Apple CEO, brainiac Michael Dell said...

"What would I do? I'd shut it down and give the money back to the shareholders."

to which Steve Jobs reportedly responded internally at Apple with several "F*ck Dell" rants. 16 years later - Jobs has passed and Apple could buy 20 Dells with their spare change. Dude!

Reply Parent Score: 4

Bobthearch Member since:

"Dell gives the money back to shareholders"

"Dell Gives Back a Fraction of Money to Shareholders" would be more precise.

Michael Dell's buyout offer comes to $13.75 a share. The market price has been as high as $14.60 this year, and was over $18.00 in 2012.

Copied this from a recent news article:

Vince Dungan, a shareholder from Elgin, Texas, said he voted against the deal as he will swallow a loss if he takes the offer. Dungan said he bought Dell shares in the $55-$65 range and would lose about $25,000 if the buyout goes through.

"If Michael Dell can turn it around as a private company, why can't he do it as a public company?" Dungan asked.

Edited 2013-09-14 18:05 UTC

Reply Parent Score: 3

kompak Member since:

That's pretty much how publicly traded companies work. If you buy your stock at a high price and the stock value goes down you loose money and vice versa. Dell is nowhere near $55-65 and will never be. If you invest in stock you just have to accept the risk. Back in 2000 Nokia share was something like 65€ and now days you don't get even 5€ per share.

Reply Parent Score: 1