Dell founder reportedly plans to spend $1 billion of his own funds to regain control of company
Give Michael Dell credit — he’s apparently willing to put his money where his mouth is. Unnamed sources have told Bloomberg that Dell, the founder of Dell Inc. (DELL), is planning to spend “as much as $1 billion of his personal funds” to regain control of the company and take it private. Bloomberg’s sources indicate that Dell would combine the personal funds with his own $3.6 billion stake in the company to fund just over half of the money needed to buy out Dell. The rest of the buyout would reportedly be “financed by debt and possibly some of the $11 billion of cash Dell reported” in its last earnings report, as well up to $2 billion provided by Silver Lake Management and Microsoft (MSFT).
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