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Report: Dell buyout near

Posted By KATE STANTON, UPI.com   |   Feb. 4, 2013 at 3:05 PM   |   Comments

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Feb. 4 (UPI) -- Dell Inc., is in the final stages of a $23 billion deal with a consortium led by Dell founder and CEO, Michael Dell, The Wall Street Journal reported Monday. The Dell buyout would make the world's third largest PC producer a private company.

Working with Microsoft and private equity firm Silver Lake Partners, Dell would contribute his 16 percent stake -- worth $3.7 billion -- to the deal, while his investment firm would provide an additional $700 million.

As USA Today reported, Dell Inc. shares fell to $13.42 on the heels of buyout rumors.

Michael Dell started his tech giant with $1,000 in the mid 80s.

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