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Monday, September 16, 2013

Michael Dell on course to acquire the tech company he founded

Technology company Dell Inc. says a preliminary tally of votes from its recent special meeting shows that a majority of stockholders have approved the proposal to let company founder, Chairman and CEO Michael Dell acquire the business in partnership with investment firm Silver Lake Partners.

Michael Dell said “I am pleased with this outcome and am energized to continue building Dell into the industry’s leading provider of scalable, end-to-end technology solutions. As a private enterprise, with a strong private-equity partner, we’ll serve our customers with a single-minded purpose and drive the innovations that will help them achieve their goals. I would like to thank our 110,000 team members around the world who, throughout this process, have remained focused on serving our customers with unity, purpose and pride. As our company continues to expand its enterprise solutions and services business, our team members will be Dell’s most valuable asset and the key to our future success.”

The transaction is expected to be completed in the next few months, subject to regulatory approval.

CNBC reports that Dell isn’t expected to return to the smartphone market after its founder acquires the business, although it’ll keep producing tablet devices.

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Author: The Fonecast
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