Dell's go-private deal gets regulators' approval

The company expects to close the transaction before end of its third fiscal quarter on November 1.

Dell

After months of buyout drama, Dell has cleared one of the final hurdles to becoming a private company again.

Dell announced Tuesday it had received "all necessary pre-merger regulatory clearances" to be acquired by Dell founder and CEO Michael Dell in partnership with Silver Lake Partners.

In September, the company's shareholders voted in favor Michael Dell and Silver Lake's $25 billion buyout offer and plan to take the company private. That was after investor-activist Carl Icahn backed out of his bid to acquire the company.

Under the deal, Dell and Silver Lake purchased all remaining shares of the company that investors did not own for a sale price of $13.75 per share, with a 13-cent special dividend. Dell initially offered $13.65 per share.

The transaction is expected to close before the end of Dell's third fiscal quarter on November 1.

Updated at 7:46 a.m. PT: with additional background.

 

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