ROUND ROCK, Texas -- Slumping personal computer maker Dell is selling itself for $24.4 billion to its founder and a group of investors that includes Microsoft. It s the largest deal of its kind since the Great Recession dried up financing for risky maneuvers like this.
The complex agreement announced Tuesday will end Dell Inc. s nearly 25-year history as a publicly traded company. Shareholders are receiving $13.65 per share for their stock.
The deal reflects Dell s desire to engineer a turnaround attempt away from the glare and financial pressures of Wall Street.
Founder Michael Dell will remain the company s CEO and largest shareholder. He already owned a nearly 16 percent stake in the company, which is based in Round Rock, Texas.
Microsoft Corp. is taking part in the deal with a $2 billion loan.