Dell goes private in $24.4 billion deal with Silver Lake

CBH Columbia Basin Herald Local News

by Tiffany Sukola & Herald Staff Writer
| February 8, 2013 5:00 AM

QUINCY - Operations at Dell's Quincy data center will not be affected by the company's recent announcement of a $24.4 billion buyout, according to Dell officials.

Dell confirmed this week that a definitive merger agreement is in place, under which Dell founder and Chief Executive Officer Michael Dell, in partnership with technology investment firm Silver Lake, will acquire Dell.

Under the terms of the agreement, Dell stockholders will receive $13.65 in cash for each share of Dell common stock they hold, according to a Dell press release. The transaction is valued at approximately $24.4 billion.

The buyers will acquire for cash all of the outstanding shares not held by Michael Dell and certain other members of management.

The Dell board of directors unanimously approved the merger agreement under which Michael Dell and Silver Lake will acquire Dell and take the company private, according to the release. However, the transaction is subject to a number of conditions including a vote of unaffiliated stockholders and the receipt of required regulatory approvals.

According to the press release, the transaction is expected to close before the end of the second quarter of Dell's fiscal year 2014.

Dell currently operates a data center in Quincy. However, Dell spokesperson Jess Blackburn said Wednesday that operations there will not change as a result of the company going private.

"As a private enterprise, we will continue to execute our strategy of delivering best-in-class solutions," said Blackburn.

Silver Lake lists Vantage Data Centers in its portfolio of current investments on their web site. Vantage Data Centers also operates a data center in Quincy.

For more information on the merger agreement, visit www.dell.com.